Golden Ocean Group (GOGL) Hits New 1-Year Low at $4.77

Golden Ocean Group Ltd (NASDAQ:GOGL) reached a new 52-week low on Thursday . The stock traded as low as $4.77 and last traded at $4.84, with a volume of 700 shares traded. The stock had previously closed at $4.96.

GOGL has been the topic of several analyst reports. Nordea Equity Research lowered shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. BidaskClub upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. BTIG Research initiated coverage on shares of Golden Ocean Group in a report on Thursday, November 15th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.15.

Get Golden Ocean Group alerts:

The company has a current ratio of 0.85, a quick ratio of 1.43 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $737.10 million, a P/E ratio of 7.98 and a beta of 1.87.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.16 EPS for the quarter, topping 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 business had revenue of $131.92 million for the quarter, compared to analyst estimates of $106.10 million. Equities research analysts forecast that Golden Ocean Group Ltd will post -0.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Thursday, March 7th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.18%. Golden Ocean Group’s payout ratio is 100.00%.

Several large investors have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of Golden Ocean Group by 179.7% during the fourth quarter. Millennium Management LLC now owns 296,945 shares of the shipping company’s stock worth $1,829,000 after acquiring an additional 190,785 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Golden Ocean Group during the fourth quarter worth $4,217,000. Gotham Asset Management LLC acquired a new stake in shares of Golden Ocean Group during the fourth quarter worth $119,000. Northern Trust Corp grew its position in Golden Ocean Group by 10.7% in the fourth quarter. Northern Trust Corp now owns 73,669 shares of the shipping company’s stock valued at $454,000 after purchasing an additional 7,100 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Golden Ocean Group in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 20.43% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/4204547/golden-ocean-group-gogl-hits-new-1-year-low-at-4-77.html.

About Golden Ocean Group (NASDAQ:GOGL)

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.

Recommended Story: Market Capitalization – What it Means for Investors