Golden Ocean Group (NASDAQ:GOGL) Announces Earnings Results, Misses Estimates By $0.14 EPS

Golden Ocean Group (NASDAQ:GOGL) released its quarterly earnings data on Wednesday. The shipping company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.14), Zacks reports. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%.

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL traded up $0.51 during midday trading on Wednesday, reaching $9.91. The company had a trading volume of 4,626,830 shares, compared to its average volume of 1,805,374. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group has a 1 year low of $8.52 and a 1 year high of $15.77. The business’s 50-day simple moving average is $9.12 and its 200 day simple moving average is $10.65. The stock has a market cap of $1.98 billion, a P/E ratio of 8.14 and a beta of 1.16.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Pareto Securities reiterated a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.