Golden Ocean Group (GOGL) got here out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.08 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 13.79%. 1 / 4 in the past, it was anticipated that this delivery firm would submit earnings of $0.28 per share when it really produced earnings of $0.32, delivering a shock of 14.29%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
Golden Ocean Group
The sustainability of the inventory’s instant worth motion primarily based on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
Golden Ocean Group shares have added about 11.3% because the starting of the yr versus the S&P 500’s acquire of 26.2%.
What’s Subsequent for Golden Ocean Group?
Whereas Golden Ocean Group has underperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable monitor document of harnessing the ability of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Golden Ocean Group: combined. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You possibly can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.27 on $227.09 million in revenues for the approaching quarter and $1.18 on $815.2 million in revenues for the present fiscal yr.
Traders needs to be aware of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as properly. By way of the Zacks Business Rank, Transportation – Transport is at present within the backside 20% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One other inventory from the identical trade, Nordic American Tankers (NAT), has but to report outcomes for the quarter ended September 2024. The outcomes are anticipated to be launched on November 29.
This tanker firm is anticipated to submit quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has been revised 50% decrease during the last 30 days to the present degree.
Nordic American Tankers’ revenues are anticipated to be $54.43 million, up 13.3% from the year-ago quarter.
Ought to You Spend money on Golden Ocean Group Restricted (GOGL)?
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Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report
Nordic American Tankers Limited (NAT) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
