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Golden Ocean Group (GOGL) Gains But Lags Market: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $12.78 in the latest trading session, marking a +0.95% move from the prior day. This change lagged the S&P 500's 2.48% gain on the day. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the shipping company had gained 1.12% over the past month. This has outpaced the Transportation sector's loss of 10.06% and the S&P 500's loss of 7.81% 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 $0.35 per share, which would represent 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $805.5 million. These totals would mark changes of -42.01% and -28.98%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 8.12. This represents a premium compared to its industry's average Forward P/E of 4.61.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Gains But Lags Market: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $12.78 in the latest trading session, marking a +0.95% move from the prior day. This change lagged the S&P 500's 2.48% gain on the day. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the shipping company had gained 1.12% over the past month. This has outpaced the Transportation sector's loss of 10.06% and the S&P 500's loss of 7.81% 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 $0.35 per share, which would represent 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $805.5 million. These totals would mark changes of -42.01% and -28.98%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 8.12. This represents a premium compared to its industry's average Forward P/E of 4.61.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.