Golden Ocean Group (NASDAQ:GOGL) Posts Earnings Results, Beats Expectations By $0.40 EPS

Golden Ocean Group (NASDAQ:GOGL) announced its quarterly earnings results on Wednesday. The shipping company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm posted $0.27 EPS.

Shares of NASDAQ:GOGL opened at $9.12 on Thursday. The firm’s 50 day moving average price is $9.60 and its 200-day moving average price is $10.05. Golden Ocean Group has a twelve month low of $4.09 and a twelve month high of $12.17. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.31 billion, a PE ratio of 8.22 and a beta of 1.60.

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

GOGL has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $13.00 price target on shares of Golden Ocean Group in a report on Monday, September 13th. TheStreet raised shares of Golden Ocean Group from a “c” rating to a “b-” rating in a report on Thursday, August 26th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price 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.

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Earnings History for Golden Ocean Group (NASDAQ:GOGL)

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