Wall Street analysts expect that Golden Ocean Group Ltd (NASDAQ:GOGL) will announce $90.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Golden Ocean Group’s earnings, with the highest sales estimate coming in at $90.90 million and the lowest estimate coming in at $89.10 million. Golden Ocean Group posted sales of $149.94 million in the same quarter last year, which suggests a negative year over year growth rate of 40%. The firm is expected to issue its next earnings report 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 fiscal year, analysts expect that the business 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 earnings results on Tuesday, February 19th. The shipping company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.10. The company had revenue of $131.92 million for the quarter, compared to the consensus estimate of $106.10 million. Golden Ocean Group had a return on equity of 5.65% and a net margin of 12.89%.

Several research firms recently weighed in on GOGL. Zacks Investment Research downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. BidaskClub upgraded Golden Ocean Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 14th. Nordea Equity Research downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Finally, BTIG Research assumed coverage on Golden Ocean Group in a research report on Thursday, November 15th. They issued a “buy” rating and a $10.00 price objective on the stock. Four analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.15.

NASDAQ GOGL traded up $0.20 on Friday, hitting $5.12. 209,274 shares of the company traded hands, compared to its average volume of 235,106. The company has a market capitalization of $709.71 million, a PE ratio of 8.53 and a beta of 1.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.43 and a current ratio of 0.85. Golden Ocean Group has a 52-week low of $4.61 and a 52-week high of $10.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $0.20 annualized dividend and a dividend yield of 3.91%. Golden Ocean Group’s payout ratio is 33.33%.

Several institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Golden Ocean Group in the fourth quarter worth about $69,000. Sigma Planning Corp lifted its position in shares of Golden Ocean Group by 19.7% in the fourth quarter. Sigma Planning Corp now owns 14,570 shares of the shipping company’s stock worth $90,000 after buying an additional 2,393 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Golden Ocean Group in the fourth quarter worth about $119,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Golden Ocean Group in the third quarter worth about $160,000. Finally, Trexquant Investment LP purchased a new stake in shares of Golden Ocean Group in the third quarter worth about $179,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

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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Earnings History and Estimates for Golden Ocean Group (NASDAQ:GOGL)

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