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Golden Ocean Group (GOGL) Stock Moves -0.94%: What You Should Know
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Golden Ocean Group (GOGL - Free Report) closed at $14.72 in the latest trading session, marking a -0.94% move from the prior day. Elsewhere, the Dow saw an upswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.18%.
The the stock of shipping company has risen by 16.82% in the past month, leading the Transportation sector's loss of 4.11% and the S&P 500's loss of 0.22%.
The investment community will be paying close attention to the earnings performance of Golden Ocean Group in its upcoming release. 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 full year, the Zacks Consensus Estimates are projecting earnings of $1.52 per share and revenue of $839.38 million, which would represent changes of +157.63% and +31.23%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Golden Ocean Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group is currently a Zacks Rank #3 (Hold).
With respect to valuation, Golden Ocean Group is currently being traded at a Forward P/E ratio of 9.78. This valuation marks a premium compared to its industry's average Forward P/E of 7.97.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Golden Ocean Group (GOGL) Stock Moves -0.94%: What You Should Know
Golden Ocean Group (GOGL - Free Report) closed at $14.72 in the latest trading session, marking a -0.94% move from the prior day. Elsewhere, the Dow saw an upswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.18%.
The the stock of shipping company has risen by 16.82% in the past month, leading the Transportation sector's loss of 4.11% and the S&P 500's loss of 0.22%.
The investment community will be paying close attention to the earnings performance of Golden Ocean Group in its upcoming release. 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 full year, the Zacks Consensus Estimates are projecting earnings of $1.52 per share and revenue of $839.38 million, which would represent changes of +157.63% and +31.23%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Golden Ocean Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group is currently a Zacks Rank #3 (Hold).
With respect to valuation, Golden Ocean Group is currently being traded at a Forward P/E ratio of 9.78. This valuation marks a premium compared to its industry's average Forward P/E of 7.97.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.