Analysts Expect Golden Ocean Group Ltd (GOGL) to Announce $0.08 EPS

Wall Street analysts expect that Golden Ocean Group Ltd (NASDAQ:GOGL) will post earnings per share of $0.08 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided 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 $0.19 per share in the same quarter last year, which suggests a negative year over year growth rate of 57.9%. The company is scheduled to issue its next earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Golden Ocean Group will report full year earnings of $0.58 per share for the current financial year. For the next financial year, analysts anticipate that the company will post earnings of $0.70 per share, with EPS estimates ranging from $0.31 to $1.09. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Golden Ocean Group.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Tuesday, November 20th. The shipping company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.08. Golden Ocean Group had a return on equity of 5.91% and a net margin of 13.95%. The company had revenue of $189.26 million for the quarter, compared to the consensus estimate of $120.01 million.

Several brokerages have weighed in on GOGL. BidaskClub upgraded Golden Ocean Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 27th. BTIG Research began coverage on Golden Ocean Group in a report on Thursday, November 15th. They set a “buy” rating and a $10.00 price target on the stock. ValuEngine downgraded Golden Ocean Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 31st. Nordea Equity Research downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, Zacks Investment Research upgraded Golden Ocean Group from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Monday, September 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Golden Ocean Group currently has a consensus rating of “Hold” and a consensus target price of $10.90.

Shares of NASDAQ GOGL opened at $6.98 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.74. Golden Ocean Group has a 1-year low of $6.24 and a 1-year high of $10.05. The stock has a market cap of $988.10 million, a price-to-earnings ratio of -349.00 and a beta of 2.43.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be issued a dividend of $0.15 per share. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.60 annualized dividend and a yield of 8.60%. Golden Ocean Group’s dividend payout ratio is -3,000.00%.

Several large investors have recently added to or reduced their stakes in GOGL. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Golden Ocean Group during the 3rd quarter worth about $160,000. Trexquant Investment LP acquired a new position in shares of Golden Ocean Group during the 3rd quarter worth about $179,000. Macquarie Group Ltd. acquired a new position in shares of Golden Ocean Group during the 2nd quarter worth about $184,000. California Public Employees Retirement System boosted its position in shares of Golden Ocean Group by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 90,351 shares of the shipping company’s stock worth $785,000 after acquiring an additional 6,631 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Golden Ocean Group by 67.4% during the 3rd quarter. Jane Street Group LLC now owns 94,980 shares of the shipping company’s stock worth $937,000 after acquiring an additional 38,232 shares in the last quarter. 20.22% of the stock is owned by institutional investors and hedge funds.

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, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

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Earnings History and Estimates for Golden Ocean Group (NASDAQ:GOGL)

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