Golden Ocean Group Limited (NASDAQ:GOGL) has earned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $11.88.
GOGL has been the topic of several recent analyst reports. Zacks Investment Research raised Golden Ocean Group from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, December 1st. HC Wainwright reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Golden Ocean Group in a report on Monday, September 13th.
Shares of NASDAQ GOGL traded up $0.09 during midday trading on Friday, reaching $8.64. 1,326,697 shares of the company’s stock were exchanged, compared to its average volume of 1,303,792. Golden Ocean Group has a 52-week low of $4.44 and a 52-week high of $12.17. The stock has a market capitalization of $1.24 billion, a PE ratio of 4.77 and a beta of 1.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.59 and a current ratio of 1.59. The business’s fifty day moving average price is $8.76 and its two-hundred day moving average price is $9.89.
Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Tuesday, November 23rd. The shipping company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.40. Golden Ocean Group had a return on equity of 20.25% and a net margin of 35.23%. During the same period last year, the company earned $0.27 earnings per share. Analysts predict that Golden Ocean Group will post 2.24 earnings per share for the current fiscal year.
This could be the most profitable event in crypto history. And it only happens once. If you miss it, there are no second chances.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 16th. Shareholders of record on Thursday, December 9th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 39.35%. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, December 8th. Golden Ocean Group’s dividend payout ratio is 187.85%.
Several institutional investors and hedge funds have recently made changes to their positions in GOGL. Atticus Wealth Management LLC bought a new stake in Golden Ocean Group during the third quarter worth about $27,000. Advisor Group Holdings Inc. grew its stake in Golden Ocean Group by 377.3% during the third quarter. Advisor Group Holdings Inc. now owns 4,429 shares of the shipping company’s stock worth $47,000 after buying an additional 3,501 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Golden Ocean Group by 74.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,829 shares of the shipping company’s stock worth $61,000 after buying an additional 2,484 shares during the last quarter. Aigen Investment Management LP bought a new stake in Golden Ocean Group during the second quarter worth about $121,000. Finally, Squarepoint Ops LLC bought a new stake in Golden Ocean Group during the third quarter worth about $124,000. 36.04% of the stock is owned by institutional investors and hedge funds.
About Golden Ocean Group
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: What Does An Overweight Rating Mean?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Golden Ocean Group right now?
Before you consider Golden Ocean Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Golden Ocean Group wasn’t on the list.
While Golden Ocean Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: Golden Ocean Group Limited (NASDAQ:GOGL) Given Consensus Recommendation of “Buy” by