Golden Ocean Group Limited (NASDAQ:GOGL) – Stock analysts at Seaport Global Securities issued their Q2 2017 earnings per share (EPS) estimates for shares of Golden Ocean Group Limited in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr forecasts that the shipping company will post earnings per share of ($0.13) for the quarter. Seaport Global Securities currently has a “Buy” rating and a $10.00 target price on the stock. Seaport Global Securities also issued estimates for Golden Ocean Group Limited’s Q3 2017 earnings at ($0.11) EPS, Q4 2017 earnings at ($0.10) EPS, FY2017 earnings at ($0.50) EPS and FY2018 earnings at ($0.05) EPS.
Golden Ocean Group Limited (NASDAQ:GOGL) last announced its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. The company had revenue of $83.82 million during the quarter, compared to the consensus estimate of $58.80 million. Golden Ocean Group Limited had a negative net margin of 26.08% and a negative return on equity of 5.71%.
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A number of other research firms have also weighed in on GOGL. J P Morgan Chase & Co upgraded shares of Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $14.00 in a report on Friday, April 7th. DNB Markets upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Thursday, April 6th. Morgan Stanley upgraded shares of Golden Ocean Group Limited from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $2.50 to $10.00 in a report on Tuesday, March 28th. They noted that the move was a valuation call. Pareto Securities upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Wednesday, March 15th. Finally, Zacks Investment Research lowered shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.75.
Golden Ocean Group Limited (GOGL) opened at 6.19 on Thursday. Golden Ocean Group Limited has a one year low of $3.10 and a one year high of $9.05. The company’s market cap is $771.72 million. The stock has a 50 day moving average price of $6.35 and a 200 day moving average price of $6.18.
A number of large investors have recently bought and sold shares of GOGL. Folketrygdfondet raised its stake in Golden Ocean Group Limited by 88.8% in the first quarter. Folketrygdfondet now owns 6,331,522 shares of the shipping company’s stock valued at $48,436,000 after buying an additional 2,978,808 shares during the period. Renaissance Technologies LLC raised its stake in Golden Ocean Group Limited by 52.3% in the fourth quarter. Renaissance Technologies LLC now owns 183,800 shares of the shipping company’s stock valued at $866,000 after buying an additional 63,100 shares during the period. Segantii Capital Management Ltd purchased a new stake in Golden Ocean Group Limited during the first quarter valued at approximately $705,000. Trexquant Investment LP purchased a new stake in Golden Ocean Group Limited during the first quarter valued at approximately $484,000. Finally, Russell Investments Group Ltd. purchased a new stake in Golden Ocean Group Limited during the fourth quarter valued at approximately $7,213,000. Hedge funds and other institutional investors own 14.07% of the company’s stock.
About Golden Ocean Group Limited
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.
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