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Golden Ocean Group (GOGL) Flat As Market Sinks: What You Should Know
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In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.28, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.67%.
Coming into today, shares of the shipping company had gained 10.74% in the past month. In that same time, the Transportation sector gained 10.22%, while the S&P 500 gained 8.32%.
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. Our most recent consensus estimate is calling for quarterly revenue of $144.3 million, down 53.88% from the year-ago period.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is currently a Zacks Rank #3 (Hold).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 8.21. For comparison, its industry has an average Forward P/E of 5.94, 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 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Golden Ocean Group (GOGL) Flat As Market Sinks: What You Should Know
In the latest trading session, Golden Ocean Group (GOGL - Free Report) closed at $9.28, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.67%.
Coming into today, shares of the shipping company had gained 10.74% in the past month. In that same time, the Transportation sector gained 10.22%, while the S&P 500 gained 8.32%.
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. Our most recent consensus estimate is calling for quarterly revenue of $144.3 million, down 53.88% from the year-ago period.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Golden Ocean Group is currently a Zacks Rank #3 (Hold).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 8.21. For comparison, its industry has an average Forward P/E of 5.94, 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 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.