Analysts Offer Predictions for Golden Ocean Group Limited’s FY2017 Earnings (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL) – Research analysts at Seaport Global Securities boosted their FY2017 earnings per share (EPS) estimates for shares of Golden Ocean Group Limited in a note issued to investors on Sunday, according to Zacks Investment Research. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings of ($0.14) per share for the year, up from their prior forecast of ($0.23). Seaport Global Securities also issued estimates for Golden Ocean Group Limited’s Q4 2017 earnings at $0.10 EPS and FY2018 earnings at ($0.01) EPS.

GOGL has been the topic of a number of other reports. BidaskClub raised shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Nordea Equity Research upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research cut shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Clarkson Capital lowered Golden Ocean Group Limited from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $11.00.

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Shares of Golden Ocean Group Limited (GOGL) remained flat at $$7.88 during trading hours on Wednesday. The stock had a trading volume of 138,800 shares, compared to its average volume of 351,617. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.95. Golden Ocean Group Limited has a twelve month low of $3.87 and a twelve month high of $9.95.

Golden Ocean Group Limited (NASDAQ:GOGL) last posted its quarterly earnings results on Thursday, August 17th. The shipping company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The company had revenue of $99.86 million during the quarter, compared to analyst estimates of $65.36 million. Golden Ocean Group Limited had a negative net margin of 14.69% and a negative return on equity of 3.91%.

Institutional investors have recently added to or reduced their stakes in the business. Zacks Investment Management bought a new position in shares of Golden Ocean Group Limited during the 2nd quarter valued at approximately $118,000. Two Sigma Securities LLC purchased a new position in Golden Ocean Group Limited in the 1st quarter worth approximately $123,000. Ameriprise Financial Inc. raised its holdings in shares of Golden Ocean Group Limited by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock worth $128,000 after acquiring an additional 1,840 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Golden Ocean Group Limited during the 3rd quarter worth approximately $128,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Golden Ocean Group Limited during the 1st quarter worth approximately $147,000. Institutional investors and hedge funds own 9.92% of the company’s stock.

About Golden Ocean Group Limited

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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