Brokerages Anticipate Golden Ocean Group (GOGL) to Post $0.07 EPS

Analysts expect Golden Ocean Group (NASDAQ:GOGL) to post earnings of $0.07 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Golden Ocean Group’s earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.01. Golden Ocean Group posted earnings of ($0.17) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 141.2%. The company is expected to announce its next earnings report on Wednesday, May 23rd.

On average, analysts expect that Golden Ocean Group will report full year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.48 to $0.81. For the next year, analysts forecast that the business will post earnings of $0.54 per share, with EPS estimates ranging from $0.51 to $0.57. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Golden Ocean Group.

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Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Tuesday, February 20th. The shipping company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $151.45 million for the quarter, compared to the consensus estimate of $104.91 million. Golden Ocean Group had a negative net margin of 0.51% and a negative return on equity of 0.17%.

GOGL has been the topic of a number of research analyst reports. TheStreet raised shares of Golden Ocean Group from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. Morgan Stanley set a $10.00 price objective on shares of Golden Ocean Group and gave the stock a “hold” rating in a report on Wednesday, February 21st. BidaskClub downgraded shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. ValuEngine downgraded shares of Golden Ocean Group from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. Finally, JPMorgan Chase boosted their price objective on shares of Golden Ocean Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Golden Ocean Group currently has a consensus rating of “Hold” and an average target price of $10.38.

GOGL stock opened at $7.89 on Wednesday. The stock has a market cap of $1,152.54, a P/E ratio of -399.50 and a beta of 1.95. Golden Ocean Group has a 52 week low of $5.43 and a 52 week high of $9.95. The company has a current ratio of 2.45, a quick ratio of 2.34 and a debt-to-equity ratio of 0.79.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Monday, March 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 5.07%. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.05. Golden Ocean Group’s payout ratio is presently -2,000.00%.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Golden Ocean Group during the third quarter worth about $128,000. Fox Run Management L.L.C. acquired a new position in Golden Ocean Group during the fourth quarter worth about $164,000. AMP Capital Investors Ltd acquired a new position in Golden Ocean Group during the fourth quarter worth about $195,000. Northern Trust Corp raised its position in Golden Ocean Group by 3.3% during the second quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock worth $202,000 after acquiring an additional 970 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its position in Golden Ocean Group by 24.0% during the fourth quarter. WealthTrust Axiom LLC now owns 31,671 shares of the shipping company’s stock worth $258,000 after acquiring an additional 6,140 shares during the last quarter. Institutional investors own 26.54% of the company’s stock.

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Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Kamsarmax, Panamax, and Supramax vessels. The company transports bulk commodities, such as ores, coal, grains, and fertilizers along worldwide shipping routes.

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