Analysts expect Golden Ocean Group Ltd (NASDAQ:GOGL) to announce $108.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Golden Ocean Group’s earnings. The lowest sales estimate is $97.20 million and the highest is $118.90 million. Golden Ocean Group posted sales of $151.45 million in the same quarter last year, which would indicate a negative year over year growth rate of 28.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 19th.

On average, analysts expect that Golden Ocean Group will report full-year sales of $468.02 million for the current financial year, with estimates ranging from $457.20 million to $481.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $472.94 million, with estimates ranging from $423.99 million to $569.20 million. Zacks’ sales averages are an average based on a survey of research firms that cover Golden Ocean Group.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Tuesday, November 20th. The shipping company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. Golden Ocean Group had a return on equity of 5.91% and a net margin of 13.95%. The company had revenue of $189.26 million during the quarter, compared to analysts’ expectations of $120.01 million.

GOGL has been the subject of several research analyst reports. ValuEngine cut Golden Ocean Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 6th. BidaskClub cut Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. BTIG Research initiated coverage on Golden Ocean Group in a research note on Thursday, November 15th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Nordea Equity Research cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.90.

Large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Golden Ocean Group in the third quarter worth about $160,000. Trexquant Investment LP purchased a new position in shares of Golden Ocean Group in the third quarter worth about $179,000. Macquarie Group Ltd. purchased a new position in shares of Golden Ocean Group in the second quarter worth about $184,000. California Public Employees Retirement System raised its stake in shares of Golden Ocean Group by 7.9% in the second quarter. California Public Employees Retirement System now owns 90,351 shares of the shipping company’s stock worth $785,000 after purchasing an additional 6,631 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Golden Ocean Group by 67.4% in the third quarter. Jane Street Group LLC now owns 94,980 shares of the shipping company’s stock worth $937,000 after purchasing an additional 38,232 shares during the last quarter. Hedge funds and other institutional investors own 20.22% of the company’s stock.

Golden Ocean Group stock opened at $6.85 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.43 and a quick ratio of 1.43. Golden Ocean Group has a one year low of $6.24 and a one year high of $10.05. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -342.50 and a beta of 2.43.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.76%. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, December 5th. Golden Ocean Group’s dividend payout ratio (DPR) is presently -2,000.00%.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

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