Golden Ocean Group Limited (GOGL) Set to Announce Earnings on Thursday
Golden Ocean Group Limited (NASDAQ:GOGL) will be releasing its earnings data on Thursday, August 31st. Analysts expect Golden Ocean Group Limited to post earnings of ($0.10) per share for the quarter.
Golden Ocean Group Limited (NASDAQ:GOGL) last posted its quarterly earnings data on Thursday, August 17th. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Golden Ocean Group Limited had a negative return on equity of 3.91% and a negative net margin of 14.69%. The firm had revenue of $99.86 million during the quarter, compared to analysts’ expectations of $65.36 million. On average, analysts expect Golden Ocean Group Limited to post $-0.32 EPS for the current fiscal year and $0.25 EPS for the next fiscal year.
Golden Ocean Group Limited (NASDAQ:GOGL) opened at 9.41 on Tuesday. The stock has a 50 day moving average price of $7.59 and a 200-day moving average price of $7.02. Golden Ocean Group Limited has a 12-month low of $3.49 and a 12-month high of $9.95. The stock’s market capitalization is $1.25 billion.
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A hedge fund recently raised its stake in Golden Ocean Group Limited stock. Northern Trust Corp boosted its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,988 shares of the shipping company’s stock after buying an additional 970 shares during the period. Northern Trust Corp’s holdings in Golden Ocean Group Limited were worth $202,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 10.51% of the company’s stock.
A number of analysts have commented on GOGL shares. Zacks Investment Research downgraded shares of Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. BidaskClub upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. DNB Markets upgraded shares of Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. J P Morgan Chase & Co upgraded shares of Golden Ocean Group Limited from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 4th. Finally, Seaport Global Securities initiated coverage on shares of Golden Ocean Group Limited in a report on Tuesday, June 13th. They set a “buy” rating and a $10.00 price target for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.75.
About Golden Ocean Group Limited
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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