Golden Ocean Group (GOGL) Outpaces Stock Market Gains: What You Should Know

·2-min read

In the latest trading session, Golden Ocean Group (GOGL) closed at $9.50, marking a +1.06% move from the previous day. This move outpaced the S&P 500's daily gain of 0.56%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 1.35%.

Heading into today, shares of the shipping company had lost 9.09% over the past month, lagging the Transportation sector's loss of 4.21% and the S&P 500's loss of 1.48% in that time.

Wall Street will be looking for positivity from Golden Ocean Group as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $112.2 million, down 46.29% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.96 per share and revenue of $684.8 million. These totals would mark changes of -55.35% and -17.98%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Golden Ocean Group. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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 #4 (Sell).

Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 9.79. For comparison, its industry has an average Forward P/E of 6.03, which means Golden Ocean Group is trading at a premium to the group.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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