$97.70 Million in Sales Expected for Golden Ocean Group Ltd (GOGL) This Quarter
Brokerages forecast that Golden Ocean Group Ltd (NASDAQ:GOGL) will post $97.70 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Golden Ocean Group’s earnings, with the lowest sales estimate coming in at $97.30 million and the highest estimate coming in at $98.10 million. Golden Ocean Group posted sales of $86.22 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Golden Ocean Group will report full year sales of $97.70 million for the current financial year, with estimates ranging from $309.06 million to $321.30 million. For the next fiscal year, analysts anticipate that the company will report sales of $428.32 million per share, with estimates ranging from $350.40 million to $544.25 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Golden Ocean Group.
A number of brokerages have recently issued reports on GOGL. Clarkson Capital downgraded shares of Golden Ocean Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. BidaskClub raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Nordea Equity Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.00.
Shares of Golden Ocean Group (GOGL) opened at $8.17 on Tuesday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.94. Golden Ocean Group has a 1-year low of $3.95 and a 1-year high of $9.95.
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Golden Ocean Group 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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