Golden Ocean Group (NASDAQ:GOGL) Announces Quarterly Earnings Results

Golden Ocean Group (NASDAQ:GOGL) released its quarterly earnings results on Tuesday. The shipping company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.40, Fidelity Earnings reports. Golden Ocean Group had a return on equity of 12.34% and a net margin of 24.43%. During the same quarter last year, the firm earned $0.27 earnings per share.

Shares of Golden Ocean Group stock traded up $1.13 during trading hours on Thursday, hitting $9.12. The company’s stock had a trading volume of 6,367,950 shares, compared to its average volume of 1,204,166. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $1.31 billion, a PE ratio of 8.22 and a beta of 1.60. Golden Ocean Group has a 12-month low of $4.09 and a 12-month high of $12.17. The business has a 50 day moving average price of $9.60 and a two-hundred day moving average price of $10.05.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 20th. Stockholders of record on Friday, September 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 21.93%. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, September 9th. Golden Ocean Group’s payout ratio is presently 180.18%.

Several analysts have issued reports on GOGL shares. HC Wainwright reissued a “neutral” rating and set a $13.00 price target on shares of Golden Ocean Group in a report on Monday, September 13th. TheStreet raised Golden Ocean Group from a “c” rating to a “b-” rating in a report on Thursday, August 26th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.17.

Golden Ocean Group Company Profile

Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The firm manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.

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Earnings History for Golden Ocean Group (NASDAQ:GOGL)

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