Zacks: Brokerages Anticipate Golden Ocean Group Ltd (GOGL) Will Announce Quarterly Sales of $104.91 Million
Equities research analysts predict that Golden Ocean Group Ltd (NASDAQ:GOGL) will report sales of $104.91 million for the current quarter, Zacks reports. Two analysts have provided estimates for Golden Ocean Group’s earnings, with the highest sales estimate coming in at $111.71 million and the lowest estimate coming in at $98.10 million. Golden Ocean Group reported sales of $86.22 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.7%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Golden Ocean Group will report full year sales of $104.91 million for the current fiscal year, with estimates ranging from $321.30 million to $333.96 million. For the next year, analysts expect that the company will report sales of $447.81 million per share, with estimates ranging from $350.40 million to $540.94 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Golden Ocean Group.
GOGL has been the subject of a number of research reports. BidaskClub raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research cut Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Clarkson Capital cut Golden Ocean Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $11.00.
Shares of Golden Ocean Group (GOGL) traded down $0.16 on Friday, reaching $8.67. The company’s stock had a trading volume of 125,500 shares, compared to its average volume of 199,117. Golden Ocean Group has a 12 month low of $5.04 and a 12 month high of $9.95. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1,210.00, a PE ratio of -45.63 and a beta of 2.31.
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About Golden Ocean Group
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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