Golden Ocean Group (NASDAQ:GOGL) Releases Earnings Results

Golden Ocean Group (NASDAQ:GOGL) announced its quarterly earnings results on Wednesday. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.14), Zacks reports. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%.

Golden Ocean Group Stock Performance

NASDAQ GOGL traded up $0.55 on Wednesday, hitting $9.95. 4,028,102 shares of the company’s stock were exchanged, compared to its average volume of 1,781,234. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50-day moving average price is $9.12 and its two-hundred day moving average price is $10.65. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 8.26 and a beta of 1.16. Golden Ocean Group has a fifty-two week low of $8.52 and a fifty-two week high of $15.77.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Pareto Securities reiterated a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group restated a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a report on Wednesday.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.