Virgin Galactic (SPCE) Outpaces Stock Market Gains: What You Should Know

2021-11-03 14:50:11

This story originally appeared on Zacks

In the latest trading session, Virgin Galactic (SPCE) closed at $19.94, marking a +1.73% move from the previous day. This move outpaced the S&P 500’s daily gain of 0.65%.

– Zacks

Coming into today, shares of the company had lost 13.01% in the past month. In that same time, the Aerospace sector lost 1.84%, while the S&P 500 gained 6.38%.

Investors will be hoping for strength from SPCE as it approaches its next earnings release, which is expected to be November 8, 2021. The company is expected to report EPS of -$0.25, up 26.47% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.46 per share and revenue of $2.19 million, which would represent changes of -16.8% and +820.17%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for SPCE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.14% higher. SPCE is holding a Zacks Rank of #2 (Buy) right now.

The Aerospace – Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.

To follow SPCE in the coming trading sessions, be sure to utilize Zacks.com.

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