Virgin Galactic (SPCE) to Release Quarterly Earnings on Tuesday

Virgin Galactic (NYSE:SPCE) will be posting its quarterly earnings results 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 interested in participating in the company’s earnings conference call can do so using this link.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. The firm had revenue of $2.81 million for the quarter, compared to analyst estimates of $2.99 million. Virgin Galactic had a negative return on equity of 102.01% and a negative net margin of 7,387.31%. 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 traded down $0.02 during midday trading on Tuesday, hitting $0.86. The stock had a trading volume of 5,491,117 shares, compared to its average volume of 11,706,771. The company has a quick ratio of 5.03, a current ratio of 5.12 and a debt-to-equity ratio of 0.83. Virgin Galactic has a fifty-two week low of $0.70 and a fifty-two week high of $6.17. The company’s 50-day simple moving average is $1.38 and its 200 day simple moving average is $1.79.

Analysts Set New Price Targets

SPCE has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Truist Financial cut 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. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.