Yahoo Finance Golden Ocean Group (GOGL) Gains As Market Dips: What You Should Know
In the latest trading session, Golden Ocean Group (GOGL) closed at $9.37, marking a +0.43% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.3%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Coming into today, shares of the shipping company had gained 7.36% in the past month. In that same time, the Transportation sector gained 3.56%, while the S&P 500 gained 6.41%.
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 $136.12 million, down 56.49% from the year-ago period.
Any recent changes to analyst estimates for Golden Ocean Group should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. 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 8.26. Its industry sports an average Forward P/E of 5.01, 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 group has a Zacks Industry Rank of 35, putting it in the top 14% 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.
To follow GOGL in the coming trading sessions, be sure to utilize Zacks.com.
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Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report
