Virgin Galactic (SPCE) Set to Announce Earnings on Tuesday

Virgin Galactic (NYSE:SPCE) is set to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.26) per share for the quarter. Virgin Galactic has set its Q1 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate 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 Performance

Shares of NYSE SPCE opened at $0.95 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.03 and a current ratio of 5.12. The company’s fifty day moving average price is $1.31 and its 200 day moving average price is $1.77. The company has a market capitalization of $379.24 million, a PE ratio of -0.60 and a beta of 1.71. Virgin Galactic has a 1 year low of $0.70 and a 1 year high of $6.17.

Analyst Ratings Changes

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

About Virgin Galactic

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.