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.
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.
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