Wall Street brokerages forecast that Golden Ocean Group Limited (NASDAQ:GOGL) will post $64.09 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Golden Ocean Group Limited’s earnings, with estimates ranging from $59.30 million to $68.87 million. Golden Ocean Group Limited posted sales of $55.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.3%. The company is scheduled to report its next earnings results on Wednesday, August 23rd.

According to Zacks, analysts expect that Golden Ocean Group Limited will report full year sales of $64.09 million for the current year, with estimates ranging from $253.90 million to $314.94 million. For the next year, analysts expect that the firm will report sales of $416.57 million per share, with estimates ranging from $348.00 million to $504.70 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Golden Ocean Group Limited.

Golden Ocean Group Limited (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.03. Golden Ocean Group Limited had a negative return on equity of 5.71% and a negative net margin of 26.08%. The firm had revenue of $83.82 million during the quarter, compared to analyst estimates of $58.80 million.

GOGL has been the subject of a number of analyst reports. BidaskClub upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. DNB Markets upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Seaport Global Securities initiated coverage on shares of Golden Ocean Group Limited in a report on Tuesday, June 13th. They set a “buy” rating and a $10.00 price objective for the company. Zacks Investment Research cut shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Finally, J P Morgan Chase & Co upgraded shares of Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $6.00 to $14.00 in a report on Friday, April 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $8.75.

WARNING: “$64.09 Million in Sales Expected for Golden Ocean Group Limited (GOGL) This Quarter” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/07/16/64-09-million-in-sales-expected-for-golden-ocean-group-limited-gogl-this-quarter.html.

Golden Ocean Group Limited (GOGL) opened at 6.77 on Friday. Golden Ocean Group Limited has a 1-year low of $3.22 and a 1-year high of $9.05. The company has a 50-day moving average of $6.20 and a 200-day moving average of $6.32. The firm’s market cap is $844.03 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new position in Golden Ocean Group Limited during the first quarter valued at $123,000. Highbridge Capital Management LLC bought a new position in Golden Ocean Group Limited during the first quarter valued at $147,000. Dynamic Technology Lab Private Ltd bought a new position in Golden Ocean Group Limited during the first quarter valued at $168,000. Edmond DE Rothschild Holding S.A. bought a new position in Golden Ocean Group Limited during the first quarter valued at $238,000. Finally, Citadel Advisors LLC bought a new position in Golden Ocean Group Limited during the first quarter valued at $308,000. Institutional investors own 12.38% 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.

Get a free copy of the Zacks research report on Golden Ocean Group Limited (GOGL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Golden Ocean Group Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group Limited and related companies with MarketBeat.com's FREE daily email newsletter.