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
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $9.28, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.56%. At the same time, the Dow added 1.02%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the shipping company had gained 9.62% over the past month. This has outpaced the Transportation sector's gain of 7.83% and the S&P 500's gain of 4.72% 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.
It is also important to note the recent changes to analyst estimates for Golden Ocean Group. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 2.51% lower. Golden Ocean Group is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 4.7. This valuation marks a premium compared to its industry's average Forward P/E of 3.59.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 130, which puts it in the bottom 49% 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.
Be sure to follow all of these stock-moving metrics, and many 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
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $9.28, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.56%. At the same time, the Dow added 1.02%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the shipping company had gained 9.62% over the past month. This has outpaced the Transportation sector's gain of 7.83% and the S&P 500's gain of 4.72% 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.
It is also important to note the recent changes to analyst estimates for Golden Ocean Group. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 2.51% lower. Golden Ocean Group is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 4.7. This valuation marks a premium compared to its industry's average Forward P/E of 3.59.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 130, which puts it in the bottom 49% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.