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Golden Ocean Group (GOGL) Dips More Than Broader Markets: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $13.46 in the latest trading session, marking a -0.3% move from the prior day. This change lagged the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.64%.
Heading into today, shares of the shipping company had gained 16.08% over the past month, outpacing the Transportation sector's loss of 5.97% and the S&P 500's gain of 0.17% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. In that report, analysts expect Golden Ocean Group to post earnings of $0.35 per share. This would mark year-over-year growth of 150%. 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 8.65. For comparison, its industry has an average Forward P/E of 4.3, which means Golden Ocean Group is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Golden Ocean Group (GOGL) Dips More Than Broader Markets: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $13.46 in the latest trading session, marking a -0.3% move from the prior day. This change lagged the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.64%.
Heading into today, shares of the shipping company had gained 16.08% over the past month, outpacing the Transportation sector's loss of 5.97% and the S&P 500's gain of 0.17% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. In that report, analysts expect Golden Ocean Group to post earnings of $0.35 per share. This would mark year-over-year growth of 150%. 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 8.65. For comparison, its industry has an average Forward P/E of 4.3, which means Golden Ocean Group is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.