We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Golden Ocean Group (GOGL) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $9.91, moving +1.12% from the previous trading session. This change outpaced the S&P 500's 0.06% loss on the day. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Heading into today, shares of the shipping company had gained 3.16% over the past month, lagging the Transportation sector's gain of 4.02% and the S&P 500's gain of 5.76% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. The company is expected to report EPS of $0.75, up 316.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $284.3 million, up 68.51% from the year-ago period.
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.
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.
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 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 6.62 right now. For comparison, its industry has an average Forward P/E of 3.77, 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 91, which puts it in the top 36% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Golden Ocean Group (GOGL) Gains As Market Dips: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $9.91, moving +1.12% from the previous trading session. This change outpaced the S&P 500's 0.06% loss on the day. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Heading into today, shares of the shipping company had gained 3.16% over the past month, lagging the Transportation sector's gain of 4.02% and the S&P 500's gain of 5.76% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. The company is expected to report EPS of $0.75, up 316.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $284.3 million, up 68.51% from the year-ago period.
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.
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.
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 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 6.62 right now. For comparison, its industry has an average Forward P/E of 3.77, 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 91, which puts it in the top 36% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.