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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 $7.91 in the latest trading session, marking a -1.49% move from the prior day. This move lagged the S&P 500's daily loss of 1.17%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 2.45%.
Prior to today's trading, shares of the shipping company had lost 0.99% over the past month. This has was narrower than the Transportation sector's loss of 4.92% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. In that report, analysts expect Golden Ocean Group to post earnings of $0.15 per share. This would mark a year-over-year decline of 84.85%. Meanwhile, our latest consensus estimate is calling for revenue of $136.12 million, down 56.49% from the prior-year quarter.
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. 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.
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 sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Golden Ocean Group has a Forward P/E ratio of 7.11 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.75.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% 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) Dips More Than Broader Markets: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $7.91 in the latest trading session, marking a -1.49% move from the prior day. This move lagged the S&P 500's daily loss of 1.17%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 2.45%.
Prior to today's trading, shares of the shipping company had lost 0.99% over the past month. This has was narrower than the Transportation sector's loss of 4.92% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from Golden Ocean Group as it approaches its next earnings release. In that report, analysts expect Golden Ocean Group to post earnings of $0.15 per share. This would mark a year-over-year decline of 84.85%. Meanwhile, our latest consensus estimate is calling for revenue of $136.12 million, down 56.49% from the prior-year quarter.
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. 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.
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 sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Golden Ocean Group has a Forward P/E ratio of 7.11 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.75.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% 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.