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) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.84, marking a +1.97% move from the previous day. This move outpaced the S&P 500's daily gain of 0.92%. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the shipping company had gained 20.02% over the past month. This has outpaced the Transportation sector's gain of 1.72% and the S&P 500's loss of 0.85% in that time.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. In that report, analysts expect Golden Ocean Group to post earnings of $0.75 per share. This would mark year-over-year growth of 316.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $284.3 million, up 68.51% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 6.52. This valuation marks a premium compared to its industry's average Forward P/E of 3.91.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Golden Ocean Group (GOGL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.84, marking a +1.97% move from the previous day. This move outpaced the S&P 500's daily gain of 0.92%. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the shipping company had gained 20.02% over the past month. This has outpaced the Transportation sector's gain of 1.72% and the S&P 500's loss of 0.85% in that time.
Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. In that report, analysts expect Golden Ocean Group to post earnings of $0.75 per share. This would mark year-over-year growth of 316.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $284.3 million, up 68.51% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 6.52. This valuation marks a premium compared to its industry's average Forward P/E of 3.91.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.