Golden Ocean Group Limited (NASDAQ: GOGL) In view of the “Buy” consensus recommendation by brokerage firms
Golden Ocean Group Limited (NASDAQ: GOGL) has an average “Buy” rating of the six rating companies that currently cover the company, reports Marketbeat. One analyst rated the stock with a keep recommendation and four issued a buy recommendation on the company. The 12-month average target price among brokerage firms that hedged the stock in the past year is $ 11.88.
GOGL has been the subject of several recent analyst reports. Zacks Investment Research downgraded Golden Ocean Group from a “custody” rating to a “buy” rating and set a target price of $ 11.00 for the share in a report released on Wednesday, December 1. HC Wainwright reaffirmed a “neutral” rating and issued a price target of $ 13.00 on Golden Ocean Group shares in a report released on Monday, September 13.
NASDAQ GOGL shares traded up $ 0.09 in Friday’s midday session, reaching $ 8.64. 1,326,697 shares of the company were traded, for an average volume of 1,303,792. Golden Ocean Group has a 52-week low of $ 4.44 and a 52-week high of $ 12.17. The stock has a market cap of $ 1.24 billion, a PE ratio of 4.77 and a beta of 1.58. The company has a leverage ratio of 0.72, a rapid ratio of 1.59, and a current ratio of 1.59. The company’s fifty-day average moving price is $ 8.76, and its two-hundred-day moving average price is $ 9.89.
Golden Ocean Group (NASDAQ: GOGL) last reported its quarterly results on Tuesday, November 23. The shipping company reported earnings per share of $ 0.95 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.55 per $ 0.40. Golden Ocean Group recorded a return on equity of 20.25% and a net margin of 35.23%. During the same period last year, the company made a profit of $ 0.27 per share. Analysts expect Golden Ocean Group to post earnings per share of 2.24 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 16. Shareholders of record on Thursday, December 9, received a dividend of $ 0.85 per share. This represents a dividend of $ 3.40 on an annualized basis and a return of 39.35%. This is a boost from Golden Ocean Group’s previous quarterly dividend of $ 0.50. The ex-dividend date was Wednesday, December 8. Golden Ocean Group’s dividend payout ratio is 187.85%.
Several institutional investors and hedge funds have recently changed their positions in GOGL. Atticus Wealth Management LLC purchased a new stake in Golden Ocean Group during the third quarter valued at approximately $ 27,000. Advisor Group Holdings Inc. increased its stake in Golden Ocean Group by 377.3% during the third quarter. Advisor Group Holdings Inc. now owns 4,429 shares of the shipping company valued at $ 47,000 after purchasing an additional 3,501 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Golden Ocean Group by 74.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,829 shares of the shipping company valued at $ 61,000 after purchasing an additional 2,484 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Golden Ocean Group during the second quarter valued at approximately $ 121,000. Finally, Squarepoint Ops LLC purchased a new stake in Golden Ocean Group during the third quarter valued at approximately $ 124,000. 36.04% of the shares are held by institutional investors and hedge funds.
About the Golden Ocean Group
Golden Ocean Group Ltd. owns and operates dry bulk carriers. The company operates Newcastlemax, Capesize, Panamax and Ultramax ships and transports bulk commodities including ores, coal, grains and fertilizers. It also involves the chartering, buying and selling of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.
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