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Why Virgin Galactic (SPCE) Outpaced the Stock Market Today

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Virgin Galactic (SPCE - Free Report) closed the latest trading day at $1.92, indicating a +1.59% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.76%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 1.12%.

The company's stock has dropped by 22.86% in the past month, falling short of the Aerospace sector's loss of 4.16% and the S&P 500's gain of 2.5%.

Analysts and investors alike will be keeping a close eye on the performance of Virgin Galactic in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.30, signifying a 45.45% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.99 million, up 243.1% from the prior-year quarter.

Investors should also note any 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.79% higher within the past month. Virgin Galactic is holding a Zacks Rank of #3 (Hold) right now.

The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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