Golden Ocean Group (GOGL) Raised to Sell at ValuEngine

ValuEngine upgraded shares of Golden Ocean Group (NASDAQ:GOGL) from a strong sell rating to a sell rating in a research note released on Monday, ValuEngine reports.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Golden Ocean Group from a hold rating to a sell rating in a research report on Monday, March 25th. BidaskClub lowered shares of Golden Ocean Group from a sell rating to a strong sell rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $10.15.

GOGL opened at $4.93 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.80 and a current ratio of 0.85. Golden Ocean Group has a fifty-two week low of $4.61 and a fifty-two week high of $10.05. The stock has a market cap of $711.25 million, a P/E ratio of 8.22 and a beta of 1.81.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Tuesday, February 19th. The shipping company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. Golden Ocean Group had a net margin of 12.89% and a return on equity of 5.65%. The company had revenue of $131.92 million for the quarter, compared to analyst estimates of $106.10 million. Equities research analysts predict that Golden Ocean Group will post -0.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 6th. This represents a $0.20 dividend on an annualized basis and a yield of 4.06%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 33.33%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of Golden Ocean Group by 465.2% in the third quarter. JPMorgan Chase & Co. now owns 1,535,666 shares of the shipping company’s stock worth $15,142,000 after purchasing an additional 1,263,945 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Golden Ocean Group in the fourth quarter valued at approximately $4,217,000. Renaissance Technologies LLC boosted its position in shares of Golden Ocean Group by 34.9% in the third quarter. Renaissance Technologies LLC now owns 2,065,282 shares of the shipping company’s stock valued at $20,318,000 after acquiring an additional 534,636 shares during the period. CarVal Investors LLC bought a new position in shares of Golden Ocean Group in the fourth quarter valued at approximately $2,467,000. Finally, Citigroup Inc. boosted its position in shares of Golden Ocean Group by 207.0% in the fourth quarter. Citigroup Inc. now owns 561,672 shares of the shipping company’s stock valued at $3,396,000 after acquiring an additional 378,738 shares during the period. Institutional investors and hedge funds own 20.93% 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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Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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