Virgin Galactic (SPCE) Outperforms Broader Market: What You Need to Know
The latest trading session saw Virgin Galactic (SPCE) ending at $1.48, denoting a +1.37% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.11% for the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.12%.
Shares of the company have depreciated by 16.57% over the course of the past month, underperforming the Aerospace sector's gain of 3.33% and the S&P 500's gain of 3.55%.
Investors will be eagerly watching for the performance of Virgin Galactic in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.26, showcasing a 54.39% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2 million, indicating a 412.82% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.96 per share and revenue of $8.31 million, indicating changes of +35.14% and +22.21%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Virgin Galactic. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 8.92% increase. Virgin Galactic is currently a Zacks Rank #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 142, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
