Zacks: Analysts Anticipate Virgin Galactic Holdings, Inc. (NYSE:SPCE) to Announce -$0.25 EPS

Equities research analysts predict that Virgin Galactic Holdings, Inc. (NYSE:SPCE) will announce earnings per share (EPS) of ($0.25) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Virgin Galactic’s earnings, with estimates ranging from ($0.31) to ($0.15). Virgin Galactic posted earnings of ($0.34) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 26.5%. The firm is expected to report its next earnings report on Thursday, November 4th.

On average, analysts expect that Virgin Galactic will report full year earnings of ($1.46) per share for the current year, with EPS estimates ranging from ($1.57) to ($1.23). For the next year, analysts anticipate that the company will report earnings of ($0.95) per share, with EPS estimates ranging from ($1.20) to ($0.72). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Virgin Galactic.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Thursday, August 5th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.09).

A number of equities research analysts have commented on SPCE shares. downgraded shares of Virgin Galactic from an “overweight” rating to a “neutral” rating in a research report on Monday, June 28th. Sanford C. Bernstein raised their target price on shares of Virgin Galactic from $18.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, May 24th. Citigroup cut shares of Virgin Galactic from an “overweight” rating to a “neutral” rating in a research note on Monday, June 28th. They noted that the move was a valuation call. Bank of America cut shares of Virgin Galactic from a “buy” rating to an “underperform” rating and set a $41.00 target price for the company. in a research note on Wednesday, June 30th. Finally, Credit Suisse Group assumed coverage on shares of Virgin Galactic in a research note on Thursday, August 12th. They issued a “neutral” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.43.

NYSE SPCE traded up $0.70 during trading hours on Friday, hitting $25.19. 55,797 shares of the company’s stock traded hands, compared to its average volume of 25,523,455. The company has a market capitalization of $6.48 billion, a PE ratio of -15.40 and a beta of 0.34. The firm’s 50-day moving average is $28.86 and its 200-day moving average is $29.83. Virgin Galactic has a 52-week low of $14.27 and a 52-week high of $62.80.

In related news, major shareholder Virgin Investments Ltd sold 3,750,000 shares of the firm’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $32.26, for a total value of $120,975,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig S. Kreeger sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $25.15, for a total value of $251,500.00. The disclosure for this sale can be found here. Insiders have sold 6,785,000 shares of company stock valued at $200,118,500 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Virgin Galactic by 50.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 137,003 shares of the company’s stock valued at $3,251,000 after acquiring an additional 45,751 shares during the period. IHT Wealth Management LLC increased its stake in shares of Virgin Galactic by 15.7% in the first quarter. IHT Wealth Management LLC now owns 20,977 shares of the company’s stock valued at $643,000 after buying an additional 2,845 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Virgin Galactic in the first quarter valued at about $2,382,000. Alliancebernstein L.P. increased its stake in shares of Virgin Galactic by 82.0% in the first quarter. Alliancebernstein L.P. now owns 38,180 shares of the company’s stock valued at $1,169,000 after buying an additional 17,200 shares during the period. Finally, Fort Baker Capital Management LP bought a new stake in shares of Virgin Galactic during the 1st quarter valued at about $6,126,000. 21.21% of the stock is currently owned by hedge funds and other institutional investors.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc, an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company's spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space.

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