Yahoo Finance Virgin Galactic (SPCE) Suffers a Larger Drop Than the General Market: Key Insights
In the latest market close, Virgin Galactic (SPCE) reached $0.86, with a -1.09% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.46%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 0.64%.
The company's stock has dropped by 40.42% in the past month, falling short of the Aerospace sector's loss of 6.98% and the S&P 500's loss of 3.04%.
The investment community will be closely monitoring the performance of Virgin Galactic in its forthcoming earnings report. The company is scheduled to release its earnings on May 7, 2024. The company's earnings per share (EPS) are projected to be -$0.26, reflecting a 54.39% increase from the same quarter last 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.96 per share and revenue of $8.31 million. These totals would mark changes of +35.14% and +22.21%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Virgin Galactic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Virgin Galactic presently features a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
