Equities analysts predict that Golden Ocean Group Ltd (NASDAQ:GOGL) will report $90.00 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Golden Ocean Group’s earnings, with estimates ranging from $89.10 million to $90.90 million. Golden Ocean Group reported sales of $149.94 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 40%. The firm is expected to announce its next quarterly earnings results on Wednesday, May 29th.
According to Zacks, analysts expect that Golden Ocean Group will report full-year sales of $381.94 million for the current fiscal year, with estimates ranging from $345.33 million to $438.00 million. For the next year, analysts anticipate that the company will post sales of $487.48 million, with estimates ranging from $399.51 million to $574.93 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Golden Ocean Group.
Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.10. The firm had revenue of $131.92 million during the quarter, compared to analyst estimates of $106.10 million. Golden Ocean Group had a return on equity of 5.65% and a net margin of 12.89%.
Shares of NASDAQ:GOGL traded down $0.05 during trading on Monday, hitting $5.08. 1,152 shares of the company were exchanged, compared to its average volume of 234,386. The firm has a market capitalization of $738.66 million, a price-to-earnings ratio of 8.57 and a beta of 1.81. Golden Ocean Group has a fifty-two week low of $4.61 and a fifty-two week high of $10.05. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.58.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.94%. The ex-dividend date was Wednesday, March 6th. Golden Ocean Group’s dividend payout ratio (DPR) is currently 33.33%.
A number of hedge funds have recently modified their holdings of GOGL. GSA Capital Partners LLP acquired a new position in Golden Ocean Group during the fourth quarter valued at $69,000. Sigma Planning Corp lifted its position in Golden Ocean Group by 19.7% during the fourth quarter. Sigma Planning Corp now owns 14,570 shares of the shipping company’s stock valued at $90,000 after purchasing an additional 2,393 shares during the period. Trexquant Investment LP acquired a new position in Golden Ocean Group during the third quarter valued at $179,000. Gotham Asset Management LLC acquired a new position in Golden Ocean Group during the fourth quarter valued at $119,000. Finally, M&T Bank Corp lifted its position in Golden Ocean Group by 7.7% during the fourth quarter. M&T Bank Corp now owns 41,440 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 2,974 shares during the period. 20.93% of the stock is owned by hedge funds and other institutional investors.
Golden Ocean Group Company Profile
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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