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

Golden Ocean Group (NASDAQ:GOGL) posted its quarterly earnings data on Wednesday. The shipping company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.55 by $0.40, Fidelity Earnings reports. Golden Ocean Group had a net margin of 24.43% and a return on equity of 12.34%. During the same quarter last year, the business earned $0.27 earnings per share.

NASDAQ:GOGL opened at $9.12 on Thursday. Golden Ocean Group has a twelve month low of $4.09 and a twelve month high of $12.17. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 8.22 and a beta of 1.60. The stock has a fifty day simple moving average of $9.60 and a 200-day simple moving average of $10.05. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 20th. Stockholders of record on Friday, September 10th were given a dividend of $0.50 per share. 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 was Thursday, September 9th. Golden Ocean Group’s dividend payout ratio (DPR) is 180.18%.

Several research analysts have commented on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Golden Ocean Group in a research note on Monday, September 13th. TheStreet raised shares of Golden Ocean Group from a “c” rating to a “b-” rating in a research note on Thursday, August 26th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.17.

About Golden Ocean Group

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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