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Golden Ocean Group (GOGL) Gains As Market Dips: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $8.74 in the latest trading session, marking a +1.39% move from the prior day. The stock outpaced the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Coming into today, shares of the shipping company had lost 6% in the past month. In that same time, the Transportation sector lost 10.84%, while the S&P 500 lost 6.51%.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $172.3 million, down 55.55% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.99 per share and revenue of $794.3 million. These totals would mark changes of -26.02% and -29.97%, respectively, from last year.
Investors should also note any 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 has moved 9.55% lower. Golden Ocean Group is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Golden Ocean Group has a Forward P/E ratio of 4.33 right now. Its industry sports an average Forward P/E of 3.21, 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 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Golden Ocean Group (GOGL) Gains As Market Dips: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $8.74 in the latest trading session, marking a +1.39% move from the prior day. The stock outpaced the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.21%.
Coming into today, shares of the shipping company had lost 6% in the past month. In that same time, the Transportation sector lost 10.84%, while the S&P 500 lost 6.51%.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $172.3 million, down 55.55% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.99 per share and revenue of $794.3 million. These totals would mark changes of -26.02% and -29.97%, respectively, from last year.
Investors should also note any 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 has moved 9.55% lower. Golden Ocean Group is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Golden Ocean Group has a Forward P/E ratio of 4.33 right now. Its industry sports an average Forward P/E of 3.21, 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 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.