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Golden Ocean Group (GOGL) closed the most recent trading day at $8.85, moving +0.23% from the previous trading session. The stock lagged the S&P 500’s daily gain of 1.29%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 10.96%.
Prior to today’s trading, shares of the shipping company had gained 0.57% over the past month. This has lagged the Transportation sector’s gain of 1.39% and outpaced the S&P 500’s loss of 0.23% 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.
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. 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 sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Golden Ocean Group currently has a Forward P/E ratio of 7.81. Its industry sports an average Forward P/E of 5.31, 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 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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