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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 the most recent trading day at $8.63, moving +0.23% from the previous trading session. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Prior to today's trading, shares of the shipping company had gained 3.99% over the past month. This has outpaced the Transportation sector's loss of 3.33% and the S&P 500's loss of 0.84% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $172.3 million, down 55.55% from the prior-year quarter.
GOGL's full-year Zacks Consensus Estimates are calling for earnings of $1.99 per share and revenue of $794.3 million. These results would represent year-over-year changes of -26.02% and -29.97%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 9.55% lower. Golden Ocean Group currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 4.33. Its industry sports an average Forward P/E of 3.23, 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 industry currently has a Zacks Industry Rank of 60, which puts 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 But Lags Market: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $8.63, moving +0.23% from the previous trading session. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Prior to today's trading, shares of the shipping company had gained 3.99% over the past month. This has outpaced the Transportation sector's loss of 3.33% and the S&P 500's loss of 0.84% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $172.3 million, down 55.55% from the prior-year quarter.
GOGL's full-year Zacks Consensus Estimates are calling for earnings of $1.99 per share and revenue of $794.3 million. These results would represent year-over-year changes of -26.02% and -29.97%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 9.55% lower. Golden Ocean Group currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 4.33. Its industry sports an average Forward P/E of 3.23, 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 industry currently has a Zacks Industry Rank of 60, which puts 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.