Golden Ocean Group (GOGL) Stock Sinks As Market Gains: What You Should Know
Golden Ocean Group (GOGL) closed at $9.33 in the latest trading session, marking a -1.06% move from the prior day. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the shipping company had gained 2.28% over the past month. This has lagged the Transportation sector's gain of 5.66% and the S&P 500's gain of 4.06% in that time.
Golden Ocean Group will be looking to display strength as it nears its next earnings release. In that report, analysts expect Golden Ocean Group to post earnings of $0.15 per share. This would mark a year-over-year decline of 84.85%. Our most recent consensus estimate is calling for quarterly revenue of $136.12 million, down 56.49% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Golden Ocean Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Golden Ocean Group currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 8.35. Its industry sports an average Forward P/E of 5.06, 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 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report
