Shares of Golden Ocean Group (NASDAQ:GOGL) have earned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.33.
Several research analysts have recently weighed in on GOGL shares. BidaskClub raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 17th. JPMorgan Chase lifted their price objective on Golden Ocean Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Friday, March 23rd. Morgan Stanley set a $10.00 price objective on Golden Ocean Group and gave the stock a “hold” rating in a research report on Wednesday, February 21st. ValuEngine lowered Golden Ocean Group from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. Finally, TheStreet raised Golden Ocean Group from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th.
Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in Golden Ocean Group in the 3rd quarter valued at about $717,000. Swiss National Bank increased its position in Golden Ocean Group by 21.7% in the 4th quarter. Swiss National Bank now owns 140,260 shares of the shipping company’s stock valued at $1,140,000 after buying an additional 25,000 shares in the last quarter. California Public Employees Retirement System increased its position in Golden Ocean Group by 41.1% in the 3rd quarter. California Public Employees Retirement System now owns 118,144 shares of the shipping company’s stock valued at $926,000 after buying an additional 34,424 shares in the last quarter. Navellier & Associates Inc bought a new stake in Golden Ocean Group in the 4th quarter valued at about $558,000. Finally, Renaissance Technologies LLC increased its position in Golden Ocean Group by 12.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,067,082 shares of the shipping company’s stock valued at $8,697,000 after buying an additional 121,810 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.
GOGL stock opened at $8.22 on Thursday. Golden Ocean Group has a 1-year low of $5.43 and a 1-year high of $9.95. The company has a current ratio of 2.45, a quick ratio of 2.34 and a debt-to-equity ratio of 0.79.
Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Tuesday, February 20th. The shipping company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%. The firm had revenue of $151.45 million during the quarter, compared to analyst estimates of $104.91 million. equities analysts anticipate that Golden Ocean Group will post 0.35 EPS for the current fiscal year.
Golden Ocean Group Company Profile
Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Kamsarmax, Panamax, and Supramax vessels. The company transports bulk commodities, such as ores, coal, grains, and fertilizers along worldwide shipping routes.
Receive News & Ratings for Golden Ocean Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group and related companies with MarketBeat.com's FREE daily email newsletter.