BidaskClub cut shares of Golden Ocean Group (NASDAQ:GOGL) from a hold rating to a sell rating in a report published on Thursday morning.
Several other analysts have also commented on the stock. TheStreet raised shares of Golden Ocean Group from a d+ rating to a c rating in a research report on Tuesday, February 20th. Morgan Stanley set a $10.00 price target on shares of Golden Ocean Group and gave the company a hold rating in a research report on Wednesday, February 21st. Finally, Clarkson Capital raised shares of Golden Ocean Group from a neutral rating to a buy rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $11.00.
Shares of Golden Ocean Group (NASDAQ:GOGL) opened at $8.65 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 debt-to-equity ratio of 0.79, a quick ratio of 2.68 and a current ratio of 2.45.
Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The business had revenue of $151.45 million during the quarter, compared to analyst estimates of $104.91 million. Golden Ocean Group had a negative net margin of 0.51% and a negative return on equity of 0.17%. research analysts forecast that Golden Ocean Group will post 0.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Monday, March 5th will be given a $0.10 dividend. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, March 2nd. Golden Ocean Group’s dividend payout ratio (DPR) is presently -499.94%.
Several institutional investors have recently made changes to their positions in GOGL. Ameriprise Financial Inc. raised its position in shares of Golden Ocean Group by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 1,840 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Golden Ocean Group in the 3rd quarter valued at approximately $128,000. Fox Run Management L.L.C. purchased a new position in shares of Golden Ocean Group in the 4th quarter valued at approximately $164,000. AMP Capital Investors Ltd purchased a new position in shares of Golden Ocean Group in the 4th quarter valued at approximately $195,000. Finally, Northern Trust Corp raised its position in shares of Golden Ocean Group by 3.3% in the 2nd quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 970 shares during the last quarter. 26.92% of the stock is owned by hedge funds and other institutional investors.
About Golden Ocean Group
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.
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.