Brokerages Set Golden Ocean Group (GOGL) PT at $10.50

Golden Ocean Group (NASDAQ:GOGL) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.50.

GOGL has been the topic of several research reports. TheStreet upgraded shares of Golden Ocean Group from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. Morgan Stanley set a $10.00 target price on shares of Golden Ocean Group and gave the stock a “hold” rating in a report on Wednesday, February 21st. BidaskClub cut shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. JPMorgan Chase raised their target price on shares of Golden Ocean Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Friday, March 23rd. Finally, Clarkson Capital upgraded shares of Golden Ocean Group from a “neutral” rating to a “buy” rating in a report on Monday, February 12th.

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GOGL stock traded down $0.35 on Friday, hitting $7.28. The company had a trading volume of 141,100 shares, compared to its average volume of 208,287. Golden Ocean Group has a 12-month low of $5.43 and a 12-month high of $9.95. The company has a current ratio of 2.45, a quick ratio of 2.34 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1,050.13, a P/E ratio of -364.00 and a beta of 1.95.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Tuesday, February 20th. The shipping company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. Golden Ocean Group had a negative net margin of 0.51% and a negative return on equity of 0.17%. The company had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $104.91 million. equities analysts predict that Golden Ocean Group will post 0.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Monday, March 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, March 2nd. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.05. Golden Ocean Group’s dividend payout ratio (DPR) is currently -2,000.00%.

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Golden Ocean Group during the 3rd quarter worth $717,000. Jane Street Group LLC boosted its stake in shares of Golden Ocean Group by 106.9% during the 3rd quarter. Jane Street Group LLC now owns 140,086 shares of the shipping company’s stock worth $1,098,000 after acquiring an additional 72,393 shares during the last quarter. Swiss National Bank boosted its stake in shares of Golden Ocean Group by 21.7% during the 4th quarter. Swiss National Bank now owns 140,260 shares of the shipping company’s stock worth $1,140,000 after acquiring an additional 25,000 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Golden Ocean Group by 41.1% during the 3rd quarter. California Public Employees Retirement System now owns 118,144 shares of the shipping company’s stock worth $926,000 after acquiring an additional 34,424 shares during the last quarter. Finally, Navellier & Associates Inc purchased a new position in shares of Golden Ocean Group during the 4th quarter worth $558,000. Institutional investors and hedge funds own 26.92% of the company’s stock.

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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, Kamsarmax, Panamax, and Supramax vessels. The company transports bulk commodities, such as ores, coal, grains, and fertilizers along worldwide shipping routes.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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