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

3 Wall Street 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 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.
View GOGL analyst ratings or view top-rated stocks.

3 Wall Street research analysts have issued 12 month price objectives for Golden Ocean Group's stock. Their GOGL share price forecasts range from $8.00 to $10.00. On average, they anticipate the company's stock price to reach $9.00 in the next year. This suggests a possible upside of 17.0% from the stock's current price.
View analysts price targets for GOGL or view top-rated stocks among Wall Street analysts.

Golden Ocean Group's stock was trading at $8.69 on January 1st, 2023. Since then, GOGL stock has decreased by 11.5% and is now trading at $7.69.
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Golden Ocean Group saw a increase in short interest in the month of August. As of August 31st, there was short interest totaling 6,540,000 shares, an increase of 13.0% from the August 15th total of 5,790,000 shares. Based on an average trading volume of 1,330,000 shares, the days-to-cover ratio is presently 4.9 days. Approximately 5.5% of the company's shares are sold short.
View Golden Ocean Group's Short Interest.

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 results on Tuesday, August, 29th. The shipping company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. The shipping company earned $153.99 million during the quarter, compared to analysts' expectations 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 paid a dividend of $0.10 per share on Tuesday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 5.20%. 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 5.20%. 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.

Shares of Golden Ocean Group reverse split on 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 closing bell 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."

Golden Ocean Group's stock is owned by a number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (3.08%), State Street Corp (0.96%), Mirabella Financial Services LLP (0.78%), Geode Capital Management LLC (0.70%), Citigroup Inc. (0.69%) and Goldman Sachs Group Inc. (0.61%).

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 $7.69.

Golden Ocean Group (NASDAQ:GOGL) has a market capitalization of $1.54 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.