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Golden Ocean Group (GOGL) Stock Drops Despite Market Gains: Important Facts to Note
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Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $12.72, moving -0.47% from the previous trading session. This change lagged the S&P 500's 0.15% gain on the day. Elsewhere, the Dow saw a downswing of 0.02%, while the tech-heavy Nasdaq appreciated by 0.32%.
Coming into today, shares of the shipping company had lost 4.91% in the past month. In that same time, the Transportation sector lost 0.64%, while the S&P 500 gained 1.65%.
Analysts and investors alike will be keeping a close eye on the performance of Golden Ocean Group in its upcoming earnings disclosure. In that report, analysts expect Golden Ocean Group to post earnings of $0.23 per share. This would mark year-over-year growth of 1050%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.52 per share and a revenue of $839.38 million, signifying shifts of +157.63% and +31.23%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Golden Ocean Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Golden Ocean Group is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Golden Ocean Group is currently trading at a Forward P/E ratio of 8.41. This signifies a premium in comparison to the average Forward P/E of 8.14 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% 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) Stock Drops Despite Market Gains: Important Facts to Note
Golden Ocean Group (GOGL - Free Report) closed the most recent trading day at $12.72, moving -0.47% from the previous trading session. This change lagged the S&P 500's 0.15% gain on the day. Elsewhere, the Dow saw a downswing of 0.02%, while the tech-heavy Nasdaq appreciated by 0.32%.
Coming into today, shares of the shipping company had lost 4.91% in the past month. In that same time, the Transportation sector lost 0.64%, while the S&P 500 gained 1.65%.
Analysts and investors alike will be keeping a close eye on the performance of Golden Ocean Group in its upcoming earnings disclosure. In that report, analysts expect Golden Ocean Group to post earnings of $0.23 per share. This would mark year-over-year growth of 1050%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.52 per share and a revenue of $839.38 million, signifying shifts of +157.63% and +31.23%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Golden Ocean Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Golden Ocean Group is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Golden Ocean Group is currently trading at a Forward P/E ratio of 8.41. This signifies a premium in comparison to the average Forward P/E of 8.14 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% 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.