Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers. As of March 23, 2022, it owned a fleet of 81 dry bulk vessels. Golden Ocean Group Limited is based in Hamilton, Bermuda.
Golden Ocean Group Stock Performance
Shares of GOGL Stock opened at $11.18 on Wednesday. The stock has a market cap of $1.60 billion, a PE ratio of 3.58 and a beta of 1.24. The business has a 50-day simple moving average of $11.81 and a 200-day simple moving average of $12.16. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.65. Golden Ocean Group has a 52-week low of $7.59 and a 52-week high of $16.46.
Golden Ocean Group (NASDAQ:GOGL - Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The shipping company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.18. The business had revenue of $208.91 million during the quarter, compared to analysts' expectations of $192.70 million. Golden Ocean Group had a return on equity of 32.03% and a net margin of 48.00%. During the same quarter in the previous year, the firm posted $0.14 EPS.
Golden Ocean Group Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Stockholders of record on Wednesday, June 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $2.00 annualized dividend and a dividend yield of 17.89%. Golden Ocean Group's dividend payout ratio (DPR) is presently 64.10%.
Wall Street Analyst Weigh In
Several analysts have weighed in on GOGL shares. Jefferies Financial Group started coverage on Golden Ocean Group in a research note on Wednesday, July 20th. They set a "buy" rating and a $14.00 price target on the stock. HC Wainwright dropped their price target on Golden Ocean Group from $18.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, May 20th. Finally, StockNews.com downgraded Golden Ocean Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 20th.