Golden Ocean Group (NASDAQ:GOGL) released its earnings results on Wednesday. The shipping company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08, Morningstar.com reports. The company had revenue of $91.81 million during the quarter, compared to the consensus estimate of $74.48 million. Golden Ocean Group had a return on equity of 5.65% and a net margin of 12.89%.
NASDAQ:GOGL opened at $5.37 on Thursday. The firm has a market cap of $751.66 million, a PE ratio of 8.95 and a beta of 1.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.85 and a quick ratio of 0.80. Golden Ocean Group has a 52-week low of $4.61 and a 52-week high of $10.05.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, June 5th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 33.33%.
Large investors have recently added to or reduced their stakes in the company. CarVal Investors LLC acquired a new position in shares of Golden Ocean Group during the 4th quarter worth $2,467,000. M&T Bank Corp raised its stake in Golden Ocean Group by 7.7% in the 4th quarter. M&T Bank Corp now owns 41,440 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 2,974 shares during the last quarter. Sigma Planning Corp raised its stake in Golden Ocean Group by 19.7% in the 4th quarter. Sigma Planning Corp now owns 14,570 shares of the shipping company’s stock valued at $90,000 after purchasing an additional 2,393 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Golden Ocean Group by 465.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,535,666 shares of the shipping company’s stock valued at $15,142,000 after purchasing an additional 1,263,945 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Golden Ocean Group by 8.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 355,140 shares of the shipping company’s stock valued at $3,501,000 after purchasing an additional 27,535 shares during the last quarter. 17.13% of the stock is owned by institutional investors and hedge funds.
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About Golden Ocean Group
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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