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Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $8.20 in the latest trading session, marking a -0.85% move from the prior day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.
Prior to today's trading, shares of the shipping company had lost 4.28% over the past month. This has lagged the Transportation sector's loss of 1.87% and was narrower than the S&P 500's loss of 5.39% in that time.
Golden Ocean Group will be looking to display strength as it nears 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.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 5.59. This represents a premium compared to its industry's average Forward P/E of 3.45.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $8.20 in the latest trading session, marking a -0.85% move from the prior day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.
Prior to today's trading, shares of the shipping company had lost 4.28% over the past month. This has lagged the Transportation sector's loss of 1.87% and was narrower than the S&P 500's loss of 5.39% in that time.
Golden Ocean Group will be looking to display strength as it nears 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.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 5.59. This represents a premium compared to its industry's average Forward P/E of 3.45.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.