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Virgin Galactic Holdings, Inc. (SPCE) Dips More Than Broader Markets: What You Should Know

Virgin Galactic Holdings, Inc. (SPCE) closed the most recent trading day at $25.15, moving -1.53% from the previous trading session. This change lagged the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.31%, and the tech-heavy Nasdaq lost 2.29%.

Prior to today's trading, shares of the company had gained 64.77% over the past month. This has outpaced the Aerospace sector's loss of 1.75% and the S&P 500's gain of 5.2% in that time.

Wall Street will be looking for positivity from SPCE as it approaches its next earnings report date. This is expected to be August 3, 2020. On that day, SPCE is projected to report earnings of -$0.28 per share, which would represent a year-over-year decline of 133.33%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.05 per share and revenue of $1.82 million. These totals would mark changes of +3.67% and +244.05%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for SPCE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SPCE is currently a Zacks Rank #3 (Hold).

The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% 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.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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