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Golden Ocean Group (GOGL) Stock Moves -0.35%: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $8.58, moving -0.35% from the previous trading session. This change was narrower than the S&P 500's 2.5% loss on the day. Meanwhile, the Dow lost 1.55%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Prior to today's trading, shares of the shipping company had gained 5.51% over the past month. This has lagged the Transportation sector's gain of 8.25% and the S&P 500's gain of 7.7% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $181.5 million, down 53.18% from the year-ago period.
GOGL's full-year Zacks Consensus Estimates are calling for earnings of $1.94 per share and revenue of $789.3 million. These results would represent year-over-year changes of -27.88% and -30.41%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 2.51% lower within the past month. Golden Ocean Group is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 4.44. For comparison, its industry has an average Forward P/E of 3.42, which means Golden Ocean Group is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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) Stock Moves -0.35%: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $8.58, moving -0.35% from the previous trading session. This change was narrower than the S&P 500's 2.5% loss on the day. Meanwhile, the Dow lost 1.55%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Prior to today's trading, shares of the shipping company had gained 5.51% over the past month. This has lagged the Transportation sector's gain of 8.25% and the S&P 500's gain of 7.7% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $181.5 million, down 53.18% from the year-ago period.
GOGL's full-year Zacks Consensus Estimates are calling for earnings of $1.94 per share and revenue of $789.3 million. These results would represent year-over-year changes of -27.88% and -30.41%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 2.51% lower within the past month. Golden Ocean Group is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 4.44. For comparison, its industry has an average Forward P/E of 3.42, which means Golden Ocean Group is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.