Analysts expect Golden Ocean Group Ltd (NASDAQ:GOGL) to report $97.70 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Golden Ocean Group’s earnings, with the lowest sales estimate coming in at $97.30 million and the highest estimate coming in at $98.10 million. Golden Ocean Group reported sales of $86.22 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Golden Ocean Group will report full year sales of $97.70 million for the current fiscal year, with estimates ranging from $319.56 million to $324.74 million. For the next fiscal year, analysts anticipate that the company will report sales of $427.21 million per share, with estimates ranging from $350.40 million to $540.94 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Golden Ocean Group.
A number of brokerages have issued reports on GOGL. Zacks Investment Research upgraded Golden Ocean Group from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Monday, September 4th. Clarkson Capital lowered Golden Ocean Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Finally, BidaskClub lowered Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $11.00.
Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Golden Ocean Group by 37.0% during the first quarter. Dimensional Fund Advisors LP now owns 189,825 shares of the shipping company’s stock valued at $1,452,000 after purchasing an additional 51,269 shares during the period. Airain ltd purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $211,000. Ameriprise Financial Inc. raised its position in Golden Ocean Group by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 1,840 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Golden Ocean Group by 9.6% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 34,150 shares of the shipping company’s stock valued at $229,000 after purchasing an additional 3,000 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Golden Ocean Group by 3.3% during the second quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock valued at $202,000 after buying an additional 970 shares during the last quarter. Institutional investors own 24.99% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Golden Ocean Group Ltd (GOGL) Expected to Post Quarterly Sales of $97.70 Million” was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.chaffeybreeze.com/2018/01/02/golden-ocean-group-ltd-gogl-expected-to-post-quarterly-sales-of-97-70-million.html.
Golden Ocean Group Company Profile
Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international dry bulk shipping company. The Company is engaged in the transportation of dry bulk cargoes. It owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. Its vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Golden Ocean Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group and related companies with MarketBeat.com's FREE daily email newsletter.