Golden Ocean Group (NASDAQ:GOGL) Posts Earnings Results, Beats Estimates By $0.40 EPS

Golden Ocean Group (NASDAQ:GOGL) issued its quarterly earnings data on Tuesday. The shipping company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.40, Fidelity Earnings reports. Golden Ocean Group had a return on equity of 12.34% and a net margin of 24.43%. During the same quarter in the previous year, the business posted $0.27 EPS.

NASDAQ GOGL traded up $1.13 on Thursday, hitting $9.12. The company’s stock had a trading volume of 6,367,950 shares, compared to its average volume of 1,204,166. Golden Ocean Group has a 52-week low of $4.09 and a 52-week high of $12.17. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company’s 50-day simple moving average is $9.60 and its 200 day simple moving average is $10.05. The firm has a market cap of $1.31 billion, a P/E ratio of 8.22 and a beta of 1.60.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 20th. Shareholders of record on Friday, September 10th were issued a $0.50 dividend. The ex-dividend date was Thursday, September 9th. This represents a $2.00 annualized dividend and a yield of 21.93%. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.05. Golden Ocean Group’s dividend payout ratio (DPR) is 180.18%.

A number of analysts recently issued reports on GOGL shares. HC Wainwright reissued a “neutral” rating and set a $13.00 price objective on shares of Golden Ocean Group in a report on Monday, September 13th. TheStreet upgraded Golden Ocean Group from a “c” rating to a “b-” rating in a research report on Thursday, August 26th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.17.

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.

Recommended Story: What Is Dividend Yield and How Do You Calculate It?

Earnings History for Golden Ocean Group (NASDAQ:GOGL)

Receive News & Ratings for Golden Ocean Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group and related companies with MarketBeat.com's FREE daily email newsletter.