Wall Street brokerages expect Golden Ocean Group Ltd (NASDAQ:GOGL) to announce $0.07 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Golden Ocean Group’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.16. Golden Ocean Group posted earnings per share of ($0.17) during the same quarter last year, which would suggest a positive year over year growth rate of 141.2%. The firm is expected to report its next quarterly earnings report on Wednesday, May 23rd.
On average, analysts expect that Golden Ocean Group will report full-year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.48 to $0.81. For the next year, analysts expect that the company will post earnings of $0.54 per share, with EPS estimates ranging from $0.51 to $0.57. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Golden Ocean Group.
Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. The firm had revenue of $151.45 million for the quarter, compared to analyst estimates of $104.91 million. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%.
A number of institutional investors have recently made changes to their positions in the stock. Riverstone Holdings LLC purchased a new position in Golden Ocean Group during the third quarter worth approximately $85,044,000. Renaissance Technologies LLC lifted its position in Golden Ocean Group by 12.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,067,082 shares of the shipping company’s stock worth $8,697,000 after buying an additional 121,810 shares in the last quarter. Deutsche Bank AG lifted its position in Golden Ocean Group by 32.3% during the fourth quarter. Deutsche Bank AG now owns 635,270 shares of the shipping company’s stock worth $5,176,000 after buying an additional 154,923 shares in the last quarter. Millennium Management LLC lifted its position in Golden Ocean Group by 317.0% during the fourth quarter. Millennium Management LLC now owns 519,955 shares of the shipping company’s stock worth $4,238,000 after buying an additional 395,265 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Golden Ocean Group by 82.6% in the second quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock valued at $2,328,000 after purchasing an additional 156,706 shares during the period. Hedge funds and other institutional investors own 26.92% of the company’s stock.
Shares of Golden Ocean Group (GOGL) traded down $0.10 during trading hours on Thursday, hitting $9.02. The stock had a trading volume of 245,768 shares, compared to its average volume of 210,077. The company has a current ratio of 2.45, a quick ratio of 2.68 and a debt-to-equity ratio of 0.79. Golden Ocean Group has a 12-month low of $5.43 and a 12-month high of $9.95.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Monday, March 5th will be given a dividend of $0.10 per share. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 4.43%. Golden Ocean Group’s dividend payout ratio (DPR) is presently -499.94%.
Golden Ocean Group 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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