Brokerages expect that Golden Ocean Group Limited (NASDAQ:GOGL) will announce $81.57 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Golden Ocean Group Limited’s earnings, with the highest sales estimate coming in at $83.43 million and the lowest estimate coming in at $79.70 million. Golden Ocean Group Limited reported sales of $71.01 million during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The firm is scheduled to issue its next earnings report on Tuesday, November 28th.

According to Zacks, analysts expect that Golden Ocean Group Limited will report full year sales of $81.57 million for the current financial year, with estimates ranging from $297.10 million to $307.84 million. For the next fiscal year, analysts forecast that the firm will post sales of $418.70 million per share, with estimates ranging from $347.40 million to $530.02 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Golden Ocean Group Limited.

Golden Ocean Group Limited (NASDAQ:GOGL) last issued its quarterly earnings data on Thursday, August 17th. The shipping company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $99.86 million for the quarter, compared to analyst estimates of $65.36 million. Golden Ocean Group Limited had a negative return on equity of 3.91% and a negative net margin of 14.69%.

GOGL has been the topic of several recent analyst reports. DNB Markets upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Zacks Investment Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, September 4th. BidaskClub cut Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Clarkson Capital cut Golden Ocean Group Limited from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Finally, Nordea Equity Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $11.00.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GLG Partners LP acquired a new stake in shares of Golden Ocean Group Limited in the 2nd quarter worth approximately $428,000. Goldman Sachs Group Inc. grew its holdings in shares of Golden Ocean Group Limited by 19.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 82,159 shares of the shipping company’s stock worth $552,000 after acquiring an additional 13,235 shares during the period. Zacks Investment Management acquired a new stake in shares of Golden Ocean Group Limited in the 2nd quarter worth approximately $118,000. Dimensional Fund Advisors LP grew its holdings in shares of Golden Ocean Group Limited by 82.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock worth $2,328,000 after acquiring an additional 156,706 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Golden Ocean Group Limited by 3.3% in 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 period. Institutional investors and hedge funds own 10.51% of the company’s stock.

Golden Ocean Group Limited (NASDAQ GOGL) traded up 1.44% during trading on Friday, hitting $8.44. The stock had a trading volume of 256,276 shares. The firm’s market cap is $1.09 billion. Golden Ocean Group Limited has a 12-month low of $3.50 and a 12-month high of $9.95. The stock’s 50 day moving average price is $8.59 and its 200 day moving average price is $7.52.

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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