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Golden Ocean Group (GOGL) Rises As Market Takes a Dip: Key Facts

Zacks Equity Research
·2 分鐘文章

Golden Ocean Group (GOGL) closed the latest trading day at $14.13, indicating a +0.28% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw a decrease of 0.33%.

Shares of the shipping company witnessed a gain of 11.38% over the previous month, beating the performance of the Transportation sector with its loss of 10.34% and the S&P 500's loss of 4.05%.

Investors will be eagerly watching for the performance of Golden Ocean Group in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.23, indicating a 1050% growth compared to the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.52 per share and revenue of $839.38 million, indicating changes of +157.63% and +31.23%, respectively, compared to the previous year.

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It's also important for investors to be aware of any recent modifications 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Golden Ocean Group possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Golden Ocean Group is currently trading at a Forward P/E ratio of 9.27. Its industry sports an average Forward P/E of 7.58, so one might conclude that Golden Ocean Group is trading at a premium comparatively.

The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% 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.

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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Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report

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Zacks Investment Research