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Golden Ocean Group (GOGL) Gains But Lags Market: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $8.82, moving +0.46% from the previous trading session. This move lagged the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Coming into today, shares of the shipping company had gained 4.03% in the past month. In that same time, the Transportation sector lost 3.4%, while the S&P 500 lost 4.4%.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. The company is expected to report EPS of $0.15, down 84.85% from the prior-year quarter. 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.
Any recent changes to analyst estimates for Golden Ocean Group should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is currently a Zacks Rank #4 (Sell).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 4.75. This represents a premium compared to its industry's average Forward P/E of 3.7.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
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Golden Ocean Group (GOGL) Gains But Lags Market: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $8.82, moving +0.46% from the previous trading session. This move lagged the S&P 500's daily gain of 1.75%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.
Coming into today, shares of the shipping company had gained 4.03% in the past month. In that same time, the Transportation sector lost 3.4%, while the S&P 500 lost 4.4%.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. The company is expected to report EPS of $0.15, down 84.85% from the prior-year quarter. 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.
Any recent changes to analyst estimates for Golden Ocean Group should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is currently a Zacks Rank #4 (Sell).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 4.75. This represents a premium compared to its industry's average Forward P/E of 3.7.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.