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Golden Ocean Group Limited (GOGL) - free report >>
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Golden Ocean Group Limited (GOGL) - free report >>
ZIM Integrated Shipping Services Ltd. (ZIM) - free report >>
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Is Golden Ocean Group (GOGL) Outperforming Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Golden Ocean Group (GOGL - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Golden Ocean Group is one of 140 individual stocks in the Transportation sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GOGL's full-year earnings has moved 5.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GOGL has returned about 27.6% since the start of the calendar year. In comparison, Transportation companies have returned an average of -2.6%. This means that Golden Ocean Group is outperforming the sector as a whole this year.
Another stock in the Transportation sector, ZIM Integrated Shipping Services (ZIM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 21.3%.
Over the past three months, ZIM Integrated Shipping Services' consensus EPS estimate for the current year has increased 57.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Golden Ocean Group is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #139 in the Zacks Industry Rank. This group has gained an average of 17.3% so far this year, so GOGL is performing better in this area. ZIM Integrated Shipping Services is also part of the same industry.
Investors with an interest in Transportation stocks should continue to track Golden Ocean Group and ZIM Integrated Shipping Services. These stocks will be looking to continue their solid performance.