Virgin America Inc (VA) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.36. The company posted revenue of $364.00 million in the period, compared to analysts expectations of $361.40 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
Many Wall Street Analysts have commented on Virgin America Inc. Company shares were Downgraded by Barclays on Apr 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 56 from a previous price target of $44 .Company shares were Downgraded by Deutsche Bank on Apr 8, 2016 to ” Hold”, Firm has raised the Price Target to $ 57 from a previous price target of $45 .Virgin America Inc was Upgraded by Morgan Stanley to ” Equal-Weight” on Apr 5, 2016.
Virgin America Inc opened for trading at $55.47 and hit $55.695 on the upside on Wednesday, eventually ending the session at $55.62, with a gain of 0.34% or 0.19 points. The heightened volatility saw the trading volume jump to 6,89,976 shares. Company has a market cap of $2,479 M.
In a different news, on Nov 23, 2015, John J. Varley (Senior VP, General Counsel) sold 10,084 shares at $36.38 per share price. According to the SEC, on Nov 23, 2015, Stephen A. Forte (Chief Operating Officer) sold 3,827 shares at $36.47 per share price. On Nov 18, 2015, Cyrus F Jr Freidheim (director) sold 15,000 shares at $36.29 per share price, according to the Form-4 filing with the securities and exchange commission.
Virgin America Inc. is an airline that provides scheduled air travel in the United States and Mexico. The Company operates from Los Angeles and San Francisco with a presence at Dallas Love Field (DAL) to other destinations in North America. It provides service to approximately 21 airports in the United States and Mexico with a fleet of 53 narrow-body aircraft. It offers three levels of service: First Class Main Cabin Select and Main Cabin. First Class level of service includes eight-seat cabin with an inflight teammate to provide service 165 degree reclining leather seat with massage functions and 55 inches of pitch between rows among others. Main Cabin Select includes 38 inches of pitch for leg room individual Red inflight entertainment system at every seatback and one free checked bag among others. Main Cabin includes 32 or 33 inches of pitch individual Red inflight entertainment system at every seatback and complimentary live television among others.