In the latest trading session, Golden Ocean Group (GOGL) closed at $8.26, marking a +0.73% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.22%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.

Coming into today, shares of the shipping company had lost 7.55% in the past month. In that same time, the Transportation sector lost 3.1%, while the S&P 500 lost 6.58%.

Golden Ocean Group will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.75, up 316.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $284.3 million, up 68.51% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Golden Ocean Group. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Golden Ocean Group is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Golden Ocean Group is holding a Forward P/E ratio of 5.54. This valuation marks a premium compared to its industry's average Forward P/E of 3.44.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 94, putting it in the top 37% 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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