Zacks: Brokerages Anticipate Virgin Galactic Holdings (NASDAQ:SPCE) to Announce -$0.28 Earnings Per Share

Analysts expect that Virgin Galactic Holdings (NASDAQ:SPCE) will post earnings per share of ($0.28) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Virgin Galactic’s earnings. Virgin Galactic posted earnings of ($0.12) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 133.3%. The company is expected to announce its next earnings report on Friday, August 14th.

According to Zacks, analysts expect that Virgin Galactic will report full year earnings of ($1.05) per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of ($0.58) per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Virgin Galactic.

Virgin Galactic (NASDAQ:SPCE) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.37) earnings per share (EPS) for the quarter. The company had revenue of $0.53 million during the quarter.

A number of brokerages recently issued reports on SPCE. Credit Suisse Group lowered Virgin Galactic from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $15.00 to $25.00 in a report on Thursday, February 27th. Zacks Investment Research upgraded Virgin Galactic from a “sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Morgan Stanley raised shares of Virgin Galactic from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $30.00 to $24.00 in a research note on Tuesday, March 24th.

Shares of NASDAQ SPCE traded up $0.57 during trading hours on Friday, reaching $17.04. The stock had a trading volume of 10,435,911 shares, compared to its average volume of 17,951,057. The business’s fifty day moving average price is $17.17 and its two-hundred day moving average price is $15.72. Virgin Galactic has a 52-week low of $6.90 and a 52-week high of $42.49.

In other Virgin Galactic news, Director Craig S. Kreeger acquired 10,000 shares of Virgin Galactic stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $19.48 per share, with a total value of $194,800.00. Following the completion of the purchase, the director now directly owns 35,445 shares of the company’s stock, valued at approximately $690,468.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 10 Ltd Vieco sold 1,300,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $15.92, for a total transaction of $20,696,000.00. The disclosure for this sale can be found here. Insiders purchased 12,357 shares of company stock valued at $239,261 in the last three months.

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Virgin Galactic during the fourth quarter worth $3,743,000. Bank of New York Mellon Corp acquired a new position in shares of Virgin Galactic during the fourth quarter worth $680,000. Bamco Inc. NY acquired a new position in shares of Virgin Galactic during the fourth quarter worth $1,732,000. Coastal Investment Advisors Inc. increased its position in shares of Virgin Galactic by 306.7% during the first quarter. Coastal Investment Advisors Inc. now owns 92,455 shares of the company’s stock worth $1,366,000 after purchasing an additional 69,720 shares in the last quarter. Finally, Edge Wealth Management LLC acquired a new position in shares of Virgin Galactic during the first quarter worth $30,000.

About Virgin Galactic

Virgin Galactic, LLC provides spaceline services. The company offers suborbital research flights to scientific research community. It also operates a spaceport for astronaut training and flights operations.Virgin Galactic, LLC was founded in 2004 and is based in Mojave, California with additional offices in Las Cruces, New York, London, Pasadena, and Washington, DC Virgin Galactic, LLC operates as a subsidiary of Virgin Group Ltd.

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