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Why Golden Ocean Group Limited (GOGL) Could Be Positioned for a Surge?
August 30, 2017

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Golden Ocean Group Limited (GOGL - Free Report) , a shipping company engaged in transportation of bulk commodities worldwide, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GOGL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Golden Ocean Group could be a solid choice for investors.

Current Quarter Estimates for GOGL

In the past 30 days, two estimates have gone higher for Golden Ocean Group while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 13 cents a share 30 days ago, to a loss of 9 cents today, a move of 30.8%.

Current Year Estimates for GOGL

Meanwhile, Golden Ocean Group’s current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 43 cents per share 30 days ago to 21 cents per share today, an increase of 51.2%.

Golden Ocean Group Limited Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 30.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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