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Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $9.32 in the latest trading session, marking a -1.27% move from the prior day. This change lagged the S&P 500's 0.57% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.33%.
Coming into today, shares of the shipping company had lost 9.14% in the past month. In that same time, the Transportation sector lost 1.63%, while the S&P 500 gained 1.72%.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $112.2 million, down 46.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.96 per share and revenue of $684.8 million, which would represent changes of -55.35% and -17.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group is currently a Zacks Rank #4 (Sell).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 9.83. Its industry sports an average Forward P/E of 6.21, 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 industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $9.32 in the latest trading session, marking a -1.27% move from the prior day. This change lagged the S&P 500's 0.57% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.33%.
Coming into today, shares of the shipping company had lost 9.14% in the past month. In that same time, the Transportation sector lost 1.63%, while the S&P 500 gained 1.72%.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $112.2 million, down 46.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.96 per share and revenue of $684.8 million, which would represent changes of -55.35% and -17.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group is currently a Zacks Rank #4 (Sell).
Investors should also note Golden Ocean Group's current valuation metrics, including its Forward P/E ratio of 9.83. Its industry sports an average Forward P/E of 6.21, 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 industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.