Golden Ocean Group Ltd. (GOGL) Scheduled to Post Earnings on Tuesday
Golden Ocean Group Ltd. (NASDAQ:GOGL) is scheduled to be releasing its earnings data on Tuesday, November 22nd. Analysts expect Golden Ocean Group to post earnings of ($0.30) per share for the quarter.
Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, August 24th. The company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. Golden Ocean Group had a negative return on equity of 10.86% and a negative net margin of 97.58%. On average, analysts expect Golden Ocean Group to post $-1.23 EPS for the current fiscal year and $-0.98 EPS for the next fiscal year.
Shares of Golden Ocean Group Ltd. (NASDAQ:GOGL) opened at 4.23 on Monday. The firm has a 50-day moving average price of $3.89 and a 200 day moving average price of $3.74. Golden Ocean Group Ltd. has a 52-week low of $2.55 and a 52-week high of $8.85. The stock’s market cap is $448.15 million.
Several brokerages have recently weighed in on GOGL. Jefferies Group reissued a “buy” rating on shares of Golden Ocean Group in a research report on Monday, August 1st. Zacks Investment Research raised Golden Ocean Group from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, August 29th. Finally, Pareto Securities raised Golden Ocean Group from a “hold” rating to a “buy” rating in a research report on Monday, October 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOGL. Paloma Partners Management Co purchased a new position in Golden Ocean Group during the second quarter valued at approximately $159,000. Northern Trust Corp raised its position in Golden Ocean Group by 53.6% in the third quarter. Northern Trust Corp now owns 28,889 shares of the company’s stock valued at $117,000 after buying an additional 10,082 shares during the period. Finally, KCG Holdings Inc. purchased a new position in Golden Ocean Group during the third quarter valued at approximately $126,000. 27.89% of the stock is currently owned by 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.
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