-$0.05 Earnings Per Share Expected for Golden Ocean Group Limited (GOGL) This Quarter
Brokerages expect Golden Ocean Group Limited (NASDAQ:GOGL) to post earnings per share (EPS) of ($0.05) for the current quarter, Zacks reports. Two analysts have provided estimates for Golden Ocean Group Limited’s earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.04). Golden Ocean Group Limited reported earnings of ($0.25) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 80%. The business is expected to report its next earnings results on Tuesday, November 28th.
On average, analysts expect that Golden Ocean Group Limited will report full-year earnings of ($0.12) per share for the current financial year, with EPS estimates ranging from ($0.14) to ($0.10). For the next year, analysts anticipate that the business will report earnings of $0.38 per share, with EPS estimates ranging from ($0.01) to $1.11. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Golden Ocean Group Limited.
Golden Ocean Group Limited (NASDAQ:GOGL) last issued its earnings results on Thursday, August 17th. The shipping company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $99.86 million during the quarter, compared to analysts’ expectations of $65.36 million. Golden Ocean Group Limited had a negative net margin of 14.69% and a negative return on equity of 3.91%.
Several research firms recently issued reports on GOGL. BidaskClub downgraded shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Clarkson Capital downgraded shares of Golden Ocean Group Limited from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Golden Ocean Group Limited from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, Nordea Equity Research raised shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $11.00.
Institutional investors and hedge funds have recently bought and sold shares of the business. Zacks Investment Management purchased a new position in Golden Ocean Group Limited during the 2nd quarter worth $118,000. Ameriprise Financial Inc. boosted its holdings in Golden Ocean Group Limited 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 acquiring an additional 1,840 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Golden Ocean Group Limited during the 1st quarter worth $147,000. WealthTrust Axiom LLC boosted its holdings in Golden Ocean Group Limited by 15.1% during the 2nd quarter. WealthTrust Axiom LLC now owns 25,431 shares of the shipping company’s stock worth $170,000 after acquiring an additional 3,330 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Golden Ocean Group Limited 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 acquiring an additional 970 shares during the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Golden Ocean Group Limited (NASDAQ:GOGL) traded down $0.08 during trading hours on Tuesday, reaching $8.17. 206,210 shares of the company were exchanged, compared to its average volume of 219,993. Golden Ocean Group Limited has a 1 year low of $3.54 and a 1 year high of $9.95. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.95.
Golden Ocean Group Limited Company Profile
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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