Golden Ocean Group (NASDAQ:GOGL) Downgraded by BidaskClub

BidaskClub cut shares of Golden Ocean Group (NASDAQ:GOGL) from a hold rating to a sell rating in a report released on Thursday, March 15th.

A number of other equities research analysts have also commented on GOGL. Clarkson Capital upgraded Golden Ocean Group from a neutral rating to a buy rating in a research report on Monday, February 12th. Morgan Stanley downgraded Golden Ocean Group from an overweight rating to an equal weight rating and set a $10.00 price target for the company. in a research note on Monday, February 12th. Finally, TheStreet raised Golden Ocean Group from a d+ rating to a c rating in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Golden Ocean Group presently has a consensus rating of Hold and an average price target of $10.38.

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NASDAQ GOGL traded down $0.35 during trading on Thursday, reaching $7.28. 141,100 shares of the company’s stock were exchanged, compared to its average volume of 208,287. Golden Ocean Group has a fifty-two week low of $5.43 and a fifty-two week high of $9.95. The firm has a market capitalization of $1,100.61, a PE ratio of -364.00 and a beta of 1.95. 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 announced its quarterly earnings data on Tuesday, February 20th. The shipping company reported $0.19 EPS for the quarter, topping the Zacks’ 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. research analysts anticipate that Golden Ocean Group will post 0.6 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Monday, March 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 2nd. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.49%. Golden Ocean Group’s dividend payout ratio (DPR) is -2,000.00%.

Several institutional investors and hedge funds have recently bought and sold shares of GOGL. Ameriprise Financial Inc. raised its stake in shares of Golden Ocean Group 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 purchasing an additional 1,840 shares in the last quarter. Northern Trust Corp raised its stake in shares of Golden Ocean Group by 3.3% during the 2nd quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock worth $202,000 after purchasing an additional 970 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Golden Ocean Group by 82.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock worth $2,328,000 after purchasing an additional 156,706 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of Golden Ocean Group during the 3rd quarter worth about $1,363,000. Finally, Riverstone Holdings LLC purchased a new stake in shares of Golden Ocean Group during the 3rd quarter worth about $85,044,000. 26.92% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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