Golden Ocean Group (NASDAQ:GOGL) Announces Quarterly Earnings Results, Beats Estimates By $0.40 EPS

Golden Ocean Group (NASDAQ:GOGL) released its earnings results on Tuesday. The shipping company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 previous year, the company posted $0.27 earnings per share.

Shares of GOGL stock traded up $1.13 during mid-day trading on Thursday, reaching $9.12. The company’s stock had a trading volume of 6,367,950 shares, compared to its average volume of 1,204,166. Golden Ocean Group has a 1-year low of $4.09 and a 1-year high of $12.17. The company has a market cap of $1.31 billion, a P/E ratio of 8.22 and a beta of 1.60. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.20. The firm’s 50-day moving average is $9.55 and its two-hundred day moving average is $10.05.

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 is a boost from Golden Ocean Group’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, September 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.93%. Golden Ocean Group’s dividend payout ratio is currently 180.18%.

GOGL has been the subject of several research analyst reports. HC Wainwright reiterated a “neutral” rating and set a $13.00 target price on shares of Golden Ocean Group in a research note on Monday, September 13th. TheStreet upgraded shares of Golden Ocean Group from a “c” rating to a “b-” rating in a research note on Thursday, August 26th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $12.17.

About Golden Ocean Group

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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