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Golden Ocean Group (GOGL) Stock Moves -0.83%: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $9.61 in the latest trading session, marking a -0.83% move from the prior day. This change was narrower than the S&P 500's 0.89% loss on the day. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the shipping company had gained 10.87% over the past month, lagging the Transportation sector's gain of 14.32% and the S&P 500's gain of 11.42% in that time.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $181.5 million, down 53.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.94 per share and revenue of $789.3 million, which would represent changes of -27.88% and -30.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Golden Ocean Group should also be noted by investors. 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.
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, 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 2.51% lower. Golden Ocean Group is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 4.99. This valuation marks a premium compared to its industry's average Forward P/E of 3.58.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Golden Ocean Group (GOGL) Stock Moves -0.83%: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $9.61 in the latest trading session, marking a -0.83% move from the prior day. This change was narrower than the S&P 500's 0.89% loss on the day. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the shipping company had gained 10.87% over the past month, lagging the Transportation sector's gain of 14.32% and the S&P 500's gain of 11.42% in that time.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $181.5 million, down 53.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.94 per share and revenue of $789.3 million, which would represent changes of -27.88% and -30.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Golden Ocean Group should also be noted by investors. 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.
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, 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 2.51% lower. Golden Ocean Group is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 4.99. This valuation marks a premium compared to its industry's average Forward P/E of 3.58.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.