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Golden Ocean Group (GOGL) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.32, marking a +1.64% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 4.81%.
Prior to today's trading, shares of the shipping company had gained 14.78% over the past month. This has outpaced the Transportation sector's gain of 2.99% and the S&P 500's gain of 0.64% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. On that day, Golden Ocean Group is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 316.67%. Meanwhile, our latest consensus estimate is calling for revenue of $284.3 million, up 68.51% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 6.3. This represents a premium compared to its industry's average Forward P/E of 3.75.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Golden Ocean Group (GOGL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.32, marking a +1.64% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 4.81%.
Prior to today's trading, shares of the shipping company had gained 14.78% over the past month. This has outpaced the Transportation sector's gain of 2.99% and the S&P 500's gain of 0.64% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. On that day, Golden Ocean Group is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 316.67%. Meanwhile, our latest consensus estimate is calling for revenue of $284.3 million, up 68.51% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 6.3. This represents a premium compared to its industry's average Forward P/E of 3.75.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.