Virgin Galactic Holdings, Inc. (SPCE - Free Report) closed at $20.44 in the latest trading session, marking a -0.34% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.48%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq lost 0.29%.
Prior to today's trading, shares of the company had gained 14.58% over the past month. This has outpaced the Aerospace sector's loss of 3.72% and the S&P 500's loss of 4.3% in that time.
SPCE will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. The company is expected to report EPS of -$0.27, down 35% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.16 per share and revenue of $1.82 million, which would represent changes of -6.42% and +244.05%, respectively, from the prior year.
Any recent changes to analyst estimates for SPCE should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.5% lower. SPCE 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 226, which puts it in the bottom 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.