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Golden Ocean Group (GOGL) Outpaces Stock Market Gains: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $9.22 in the latest trading session, marking a +1.32% move from the prior day. This change outpaced the S&P 500's 0.59% gain on the day. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.45%.
Coming into today, shares of the shipping company had gained 4.48% in the past month. In that same time, the Transportation sector lost 3.15%, while the S&P 500 lost 4.33%.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. On that day, Golden Ocean Group is projected to report earnings of $0.15 per share, which would represent a year-over-year decline of 84.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $136.12 million, down 56.49% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.85 per share and revenue of $790.65 million. These totals would mark changes of -31.23% and -30.29%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Golden Ocean Group. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 4.92. Its industry sports an average Forward P/E of 3.89, so we one might conclude that Golden Ocean Group is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Golden Ocean Group (GOGL) Outpaces Stock Market Gains: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $9.22 in the latest trading session, marking a +1.32% move from the prior day. This change outpaced the S&P 500's 0.59% gain on the day. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.45%.
Coming into today, shares of the shipping company had gained 4.48% in the past month. In that same time, the Transportation sector lost 3.15%, while the S&P 500 lost 4.33%.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. On that day, Golden Ocean Group is projected to report earnings of $0.15 per share, which would represent a year-over-year decline of 84.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $136.12 million, down 56.49% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.85 per share and revenue of $790.65 million. These totals would mark changes of -31.23% and -30.29%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Golden Ocean Group. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 4.92. Its industry sports an average Forward P/E of 3.89, so we one might conclude that Golden Ocean Group is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.