Golden Ocean Group Limited (NASDAQ:GOGL) – Research analysts at Seaport Global Securities issued their Q2 2017 earnings per share estimates for shares of Golden Ocean Group Limited in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr expects that the shipping company will earn ($0.13) per share for the quarter. Seaport Global Securities has a “Buy” rating and a $10.00 price objective 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 released its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.03. The firm had revenue of $83.82 million for 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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GOGL has been the subject of several other reports. J P Morgan Chase & Co raised shares of Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating and increased their price target for the company from $6.00 to $14.00 in a research report on Friday, April 7th. Pareto Securities upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Wednesday, March 15th. Morgan Stanley upgraded shares of Golden Ocean Group Limited from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $2.50 to $10.00 in a report on Tuesday, March 28th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Finally, DNB Markets upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $8.75.

Shares of Golden Ocean Group Limited (NASDAQ GOGL) opened at 6.46 on Thursday. The firm’s 50-day moving average is $6.45 and its 200-day moving average is $6.17. Golden Ocean Group Limited has a 1-year low of $3.10 and a 1-year high of $9.05. The company’s market capitalization is $805.38 million.

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Golden Ocean Group Limited during the fourth quarter valued at $7,213,000. Dimensional Fund Advisors LP purchased a new stake in shares of Golden Ocean Group Limited during the fourth quarter worth approximately $653,000. Renaissance Technologies LLC boosted its stake in shares of 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 worth $866,000 after buying an additional 63,100 shares during the last quarter. GLG Partners LP purchased a new stake in shares of Golden Ocean Group Limited during the fourth quarter worth approximately $908,000. Finally, Swiss National Bank boosted its stake in shares of Golden Ocean Group Limited by 26.0% in the first quarter. Swiss National Bank now owns 115,260 shares of the shipping company’s stock worth $875,000 after buying an additional 23,802 shares during the last quarter. Institutional investors own 14.07% of the company’s stock.

Golden Ocean Group Limited Company Profile

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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