Golden Ocean Group (NASDAQ:GOGL) Releases Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Golden Ocean Group (NASDAQ:GOGL) announced its quarterly earnings results on Tuesday. The shipping company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.40, Fidelity Earnings reports. Golden Ocean Group had a net margin of 24.43% and a return on equity of 12.34%. During the same period in the prior year, the company posted $0.27 EPS.

Shares of GOGL stock traded up $1.13 during trading hours on Thursday, reaching $9.12. 6,367,950 shares of the stock were exchanged, compared to its average volume of 1,204,166. Golden Ocean Group has a 12-month low of $4.09 and a 12-month high of $12.17. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $9.60 and its 200-day moving average price is $10.05. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.22 and a beta of 1.60.

The company also recently declared a quarterly dividend, which was paid on Monday, September 20th. Investors of record on Friday, September 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 9th. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.05. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.93%. Golden Ocean Group’s payout ratio is currently 180.18%.

A number of analysts have issued reports on the stock. TheStreet upgraded shares of Golden Ocean Group from a “c” rating to a “b-” rating in a report on Thursday, August 26th. HC Wainwright restated a “neutral” rating and issued a $13.00 target price on shares of Golden Ocean Group in a report on Monday, September 13th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Golden Ocean Group currently has a consensus rating of “Buy” and a consensus price target of $12.17.

Golden Ocean Group Company Profile

Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The firm manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.

Featured Article: Why investors pay attention to retained earnings

Earnings History for Golden Ocean Group (NASDAQ:GOGL)

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.