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Golden Ocean Group (GOGL) Dips More Than Broader Markets: What You Should Know

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Golden Ocean Group (GOGL - Free Report) closed at $13.33 in the latest trading session, marking a -1.99% move from the prior day. This move lagged the S&P 500's daily loss of 0.13%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq gained 0.26%.

Heading into today, shares of the shipping company had gained 9.32% over the past month, outpacing the Transportation sector's loss of 5.16% and the S&P 500's loss of 10.72% in that time.

Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. This is expected to be May 19, 2022. In that report, analysts expect Golden Ocean Group to post earnings of $0.35 per share. This would mark year-over-year growth of 150%. Our most recent consensus estimate is calling for quarterly revenue of $192.7 million, up 21.92% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.56 per share and revenue of $805.5 million. These totals would mark changes of -42.01% and -28.98%, respectively, from last year.

Investors might also notice 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 8.72. For comparison, its industry has an average Forward P/E of 4.13, 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 33, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow GOGL in the coming trading sessions, be sure to utilize Zacks.com.


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