Golden Ocean Group Ltd (GOGL) Given Average Rating of “Buy” by Analysts

Shares of Golden Ocean Group Ltd (NASDAQ:GOGL) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.50.

GOGL has been the topic of several research reports. Clarkson Capital raised Golden Ocean Group from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. TheStreet raised Golden Ocean Group from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th. Morgan Stanley lowered Golden Ocean Group from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective on the stock. in a research report on Monday, February 12th. BidaskClub raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, JPMorgan Chase raised their price objective on Golden Ocean Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Friday, March 23rd.

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NASDAQ:GOGL opened at $7.95 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.34 and a current ratio of 2.45. Golden Ocean Group has a 12 month low of $5.43 and a 12 month high of $9.95. The stock has a market capitalization of $1,146.77, a price-to-earnings ratio of -397.50 and a beta of 2.00.

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, beating the consensus estimate of $0.13 by $0.06. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%. The company had revenue of $151.45 million for the quarter, compared to analyst estimates of $104.91 million. equities research analysts anticipate that Golden Ocean Group will post 0.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Monday, March 5th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 2nd. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 5.03%. Golden Ocean Group’s dividend payout ratio (DPR) is currently -2,000.00%.

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of Golden Ocean Group during the third quarter valued at about $128,000. Fox Run Management L.L.C. acquired a new stake in shares of Golden Ocean Group during the fourth quarter valued at about $164,000. AMP Capital Investors Ltd acquired a new stake in shares of Golden Ocean Group during the fourth quarter valued at about $195,000. 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 acquiring an additional 970 shares in the last quarter. Finally, WealthTrust Axiom LLC grew its stake in shares of Golden Ocean Group by 24.0% during the fourth quarter. WealthTrust Axiom LLC now owns 31,671 shares of the shipping company’s stock valued at $258,000 after acquiring an additional 6,140 shares in the last quarter. Institutional investors own 26.92% of the company’s stock.

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About Golden Ocean Group

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.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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