Golden Ocean Group (GOGL) Stock Forecast, Price & News

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Golden Ocean Group in the last twelve months. There are currently 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" GOGL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GOGL, but not buy additional shares or sell existing shares.
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3 equities research analysts have issued 12-month price targets for Golden Ocean Group's stock. Their GOGL share price forecasts range from $8.00 to $10.00. On average, they predict the company's stock price to reach $9.00 in the next year. This suggests a possible upside of 18.9% from the stock's current price.
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Golden Ocean Group's stock was trading at $8.69 at the start of the year. Since then, GOGL stock has decreased by 12.9% and is now trading at $7.57.
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Golden Ocean Group saw a increase in short interest during the month of September. As of September 15th, there was short interest totaling 7,330,000 shares, an increase of 12.1% from the August 31st total of 6,540,000 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 5.5 days. Approximately 6.1% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 15th 2023.
View our GOGL earnings forecast.

Golden Ocean Group Limited (NASDAQ:GOGL) posted its quarterly earnings data on Tuesday, August, 29th. The shipping company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. The shipping company earned $153.99 million during the quarter, compared to the consensus estimate of $140.90 million. Golden Ocean Group had a net margin of 21.12% and a trailing twelve-month return on equity of 10.19%.

Golden Ocean Group announced a quarterly dividend on Tuesday, August 29th. Investors of record on Monday, September 11th will be given a dividend of $0.10 per share on Tuesday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Friday, September 8th.
Read our dividend analysis for GOGL.

ETFs with the largest weight of Golden Ocean Group (NASDAQ:GOGL) stock in their portfolio include SonicShares Global Shipping ETF (BOAT).Global X MSCI Norway ETF (NORW).

Golden Ocean Group (NASDAQ:GOGL) pays an annual dividend of $0.40 per share and currently has a dividend yield of 5.03%. GOGL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 40.40%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GOGL will have a dividend payout ratio of 44.44% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GOGL.

Golden Ocean Group's stock reverse split on the morning of Monday, August 1st 2016. The 1-5 reverse split was announced on Wednesday, July 27th 2016. The number of shares owned by shareholders was adjusted after the market closes on Friday, July 29th 2016. An investor that had 100 shares of stock prior to the reverse split would have 20 shares after the split.

Based on aggregate information from My MarketBeat watchlists, some companies that other Golden Ocean Group investors own include Scorpio Bulkers (SALT), Star Bulk Carriers (SBLK), Intel (INTC), Tsakos Energy Navigation (TNP), Uniti Group (UNIT), Capital Product Partners (CPLP), Enterprise Products Partners (EPD), Golar LNG Partners (GMLP), Prospect Capital (PSEC) and Apollo Investment (AINV).

Golden Ocean Group trades on the NASDAQ under the ticker symbol "GOGL."

Shares of GOGL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GOGL stock can currently be purchased for approximately $7.57.

Golden Ocean Group (NASDAQ:GOGL) has a market capitalization of $1.52 billion and generates $1.11 billion in revenue each year. The shipping company earns $461.85 million in net income (profit) each year or $0.99 on an earnings per share basis.

Golden Ocean Group's mailing address is PAR LA VILLE PLACE 4TH FLOOR 14 PAR LA VILLE ROAD, HAMILTON HM 08 D0, HM 08. The official website for the company is www.goldenocean.bm. The shipping company can be reached via phone at (441) 295-6935, via email at ir@goldenocean.no, or via fax at 1-441-295-3494.