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Golden Ocean Group (GOGL) Stock Moves -1.12%: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $12.38, moving -1.12% from the previous trading session. This change was narrower than the S&P 500's 1.57% loss on the day. At the same time, the Dow lost 1.56%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the shipping company had gained 3.05% in the past month. In that same time, the Transportation sector gained 6.72%, while the S&P 500 gained 5.37%.
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 help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group is currently a Zacks Rank #2 (Buy).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 8.03. Its industry sports an average Forward P/E of 4.47, so we one might conclude that Golden Ocean Group is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
To follow GOGL in the coming trading sessions, be sure to utilize Zacks.com.
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Golden Ocean Group (GOGL) Stock Moves -1.12%: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $12.38, moving -1.12% from the previous trading session. This change was narrower than the S&P 500's 1.57% loss on the day. At the same time, the Dow lost 1.56%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the shipping company had gained 3.05% in the past month. In that same time, the Transportation sector gained 6.72%, while the S&P 500 gained 5.37%.
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 help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group is currently a Zacks Rank #2 (Buy).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 8.03. Its industry sports an average Forward P/E of 4.47, so we one might conclude that Golden Ocean Group is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
To follow GOGL in the coming trading sessions, be sure to utilize Zacks.com.