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Shares of aerospace firm Virgin Galactic (NYSE:SPCE) fell in after-hours buying and selling after the corporate reported earnings for its fourth quarter of Fiscal 12 months 2023. Earnings per share got here in at -$0.26, which beat analysts’ consensus estimate of -$0.30 per share.
Gross sales elevated by 223% year-over-year, with income hitting $2.81 million. This missed analysts’ expectations by $160,000.
Wanting ahead, administration now expects income for Q1 2024 to be $2 million. As well as, free money circulation is seen touchdown between -$135 million and -$125 million.
Is Virgin Galactic a Purchase, Promote, or Maintain?
Turning to Wall Avenue, analysts have a Average Purchase consensus ranking on SPCE inventory based mostly on one Purchase and one Maintain assigned up to now three months, as indicated by the graphic beneath. After a 66% decline in its share price over the past year, the common SPCE value goal of $2.75 per share implies 44.74% upside potential. Nevertheless, it’s value noting that estimates will seemingly change following immediately’s earnings report.
