Golden Ocean Group (NASDAQ:GOGL) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Golden Ocean Group (NASDAQ:GOGL – Get Rating) issued its earnings results on Wednesday. The shipping company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.18, Fidelity Earnings reports. Golden Ocean Group had a return on equity of 32.03% and a net margin of 48.00%. During the same quarter in the previous year, the firm posted $0.14 earnings per share.

GOGL stock opened at $15.20 on Tuesday. The company has a market cap of $2.18 billion, a P/E ratio of 5.03 and a beta of 1.28. Golden Ocean Group has a 1 year low of $7.59 and a 1 year high of $16.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.49 and a quick ratio of 1.31. The stock’s fifty day moving average price is $12.92 and its 200-day moving average price is $10.86.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Investors of record on Wednesday, June 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $2.00 annualized dividend and a dividend yield of 13.16%. Golden Ocean Group’s payout ratio is currently 115.38%.

Hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC bought a new position in Golden Ocean Group in the 4th quarter worth $94,000. Parametric Portfolio Associates LLC raised its holdings in Golden Ocean Group by 18.9% during the fourth quarter. Parametric Portfolio Associates LLC now owns 13,139 shares of the shipping company’s stock valued at $122,000 after acquiring an additional 2,084 shares during the period. Mirabella Financial Services LLP bought a new stake in Golden Ocean Group during the first quarter valued at about $131,000. BlackRock Inc. bought a new stake in Golden Ocean Group during the first quarter valued at about $132,000. Finally, Squarepoint Ops LLC raised its holdings in Golden Ocean Group by 34.2% during the fourth quarter. Squarepoint Ops LLC now owns 15,500 shares of the shipping company’s stock valued at $144,000 after acquiring an additional 3,950 shares during the period. Hedge funds and other institutional investors own 28.68% of the company’s stock.

GOGL has been the subject of a number of recent analyst reports. StockNews.com lowered Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Zacks Investment Research lowered Golden Ocean Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Finally, HC Wainwright decreased their target price on Golden Ocean Group from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.83.

Golden Ocean Group Company Profile (Get Rating)

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

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