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

Golden Ocean Group (NASDAQ:GOGL) announced its earnings results on Tuesday. 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 in the prior year, the company posted $0.27 EPS.

Shares of NASDAQ GOGL traded up $1.13 during midday trading on Thursday, reaching $9.12. The company’s stock had a trading volume of 6,367,950 shares, compared to its average volume of 1,204,166. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. Golden Ocean Group has a fifty-two week low of $4.09 and a fifty-two week high of $12.17. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.22 and a beta of 1.60. The stock has a 50 day simple moving average of $9.55 and a 200-day simple moving average of $10.05.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 20th. Stockholders of record on Friday, September 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 9th. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.05. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.93%. Golden Ocean Group’s dividend payout ratio (DPR) is 180.18%.

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

Golden Ocean Group Company Profile

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.

Further Reading: Correction

Earnings History for Golden Ocean Group (NASDAQ:GOGL)

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