-$0.31 EPS Expected for Virgin Galactic Holdings, Inc. (NYSE:SPCE) This Quarter

Analysts expect Virgin Galactic Holdings, Inc. (NYSE:SPCE) to post ($0.31) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Virgin Galactic’s earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.31). Virgin Galactic reported earnings of ($0.30) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The company is expected to announce its next quarterly earnings results on Monday, August 2nd.

On average, analysts expect that Virgin Galactic will report full-year earnings of ($1.11) per share for the current year, with EPS estimates ranging from ($1.28) to ($0.94). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.60) per share, with EPS estimates ranging from ($0.97) to ($0.33). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Virgin Galactic.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings results on Monday, May 10th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.24). During the same period in the prior year, the firm earned ($1.86) EPS.

A number of research firms have issued reports on SPCE. Sanford C. Bernstein began coverage on shares of Virgin Galactic in a research report on Monday, April 19th. They set a “market perform” rating and a $27.00 price target for the company. Susquehanna raised their price target on shares of Virgin Galactic from $20.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 11th. Credit Suisse Group cut their target price on shares of Virgin Galactic from $42.00 to $33.00 and set an “outperform” rating for the company in a report on Monday. Truist began coverage on shares of Virgin Galactic in a report on Wednesday, March 17th. They set a “buy” rating and a $50.00 target price for the company. Finally, UBS Group cut their target price on shares of Virgin Galactic from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, February 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.46.

SPCE opened at $16.64 on Tuesday. Virgin Galactic has a 12-month low of $14.21 and a 12-month high of $62.80. The firm has a market capitalization of $3.94 billion, a PE ratio of -12.70 and a beta of 0.80. The firm has a 50 day moving average of $23.82 and a two-hundred day moving average of $30.15.

In other Virgin Galactic news, Director Chamath Palihapitiya sold 3,100,000 shares of Virgin Galactic stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $35.28, for a total transaction of $109,368,000.00. Following the sale, the director now owns 4,910,292 shares of the company’s stock, valued at approximately $173,235,101.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Virgin Investments Ltd sold 1,484,000 shares of Virgin Galactic stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $26.86, for a total transaction of $39,860,240.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,484,000 shares of company stock valued at $200,490,240. 14.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in Virgin Galactic during the 1st quarter worth $824,000. Price T Rowe Associates Inc. MD boosted its stake in Virgin Galactic by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,561 shares of the company’s stock worth $1,886,000 after purchasing an additional 1,005 shares during the last quarter. Captrust Financial Advisors boosted its stake in Virgin Galactic by 39.4% during the 1st quarter. Captrust Financial Advisors now owns 2,606 shares of the company’s stock worth $80,000 after purchasing an additional 736 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Virgin Galactic during the 1st quarter valued at about $3,527,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Virgin Galactic during the 1st quarter valued at about $559,000. 23.46% of the stock is currently owned by 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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