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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 $12.20, marking a +1.58% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the shipping company had lost 0.83% over the past month, lagging the Transportation sector's gain of 6.28% and the S&P 500's gain of 5.51% in that time.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. The company is expected to report EPS of $0.35, up 150% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $192.7 million, up 21.92% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.56 per share and revenue of $805.5 million, which would represent changes of -42.01% and -28.98%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Golden Ocean Group is currently trading at a Forward P/E ratio of 7.7. This represents a premium compared to its industry's average Forward P/E of 4.37.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
You can find more information on all of these metrics, and much 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 $12.20, marking a +1.58% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the shipping company had lost 0.83% over the past month, lagging the Transportation sector's gain of 6.28% and the S&P 500's gain of 5.51% in that time.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. The company is expected to report EPS of $0.35, up 150% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $192.7 million, up 21.92% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.56 per share and revenue of $805.5 million, which would represent changes of -42.01% and -28.98%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Golden Ocean Group is currently trading at a Forward P/E ratio of 7.7. This represents a premium compared to its industry's average Forward P/E of 4.37.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.