Virgin Galactic (SPCE) Set to Announce Quarterly Earnings on Tuesday

Virgin Galactic (NYSE:SPCE) will be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect Virgin Galactic to post earnings of ($0.26) per share for the quarter. Virgin Galactic has set its Q1 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. The firm had revenue of $2.81 million during the quarter, compared to analysts’ expectations of $2.99 million. On average, analysts expect Virgin Galactic to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Virgin Galactic Stock Down 2.2 %

SPCE traded down $0.02 during trading on Tuesday, reaching $0.86. The company’s stock had a trading volume of 5,491,117 shares, compared to its average volume of 11,706,771. The company’s fifty day moving average price is $1.38 and its 200-day moving average price is $1.79. Virgin Galactic has a 52-week low of $0.70 and a 52-week high of $6.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, February 28th. Wells Fargo & Company decreased their price target on Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.30.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.