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Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.05, marking a -1.63% move from the previous day. This change lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the shipping company had lost 1.08% over the past month. This has was narrower than the Transportation sector's loss of 5.63% and the S&P 500's loss of 7.36% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches 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, the Zacks Consensus Estimate for revenue is projecting net sales of $284.3 million, up 68.51% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 6.22. This represents a premium compared to its industry's average Forward P/E of 3.95.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GOGL in the coming trading sessions, be sure to utilize Zacks.com.
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Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.05, marking a -1.63% move from the previous day. This change lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the shipping company had lost 1.08% over the past month. This has was narrower than the Transportation sector's loss of 5.63% and the S&P 500's loss of 7.36% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches 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, the Zacks Consensus Estimate for revenue is projecting net sales of $284.3 million, up 68.51% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 6.22. This represents a premium compared to its industry's average Forward P/E of 3.95.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GOGL in the coming trading sessions, be sure to utilize Zacks.com.