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Virgin Galactic (SPCE) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Virgin Galactic (SPCE) closed at $3.57, marking a -1.92% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq added 2.14%.

Heading into today, shares of the company had lost 10.12% over the past month, lagging the Aerospace sector's loss of 0.99% and the S&P 500's gain of 5.1% in that time.

Investors will be hoping for strength from Virgin Galactic as it approaches its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Virgin Galactic to post earnings of -$0.50 per share. This would mark a year-over-year decline of 38.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $0.32 million, unchanged from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.24 per share and revenue of $8.43 million, which would represent changes of -18.52% and +264.71%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for Virgin Galactic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Virgin Galactic currently has a Zacks Rank of #3 (Hold).

The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report

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Zacks Investment Research