Golden Ocean Group (NASDAQ:GOGL) Announces Quarterly Earnings Results

Golden Ocean Group (NASDAQ:GOGL) released its earnings results on Wednesday. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate 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 Trading Up 5.8 %

NASDAQ GOGL traded up $0.55 on Wednesday, hitting $9.95. 4,028,102 shares of the stock were exchanged, compared to its average volume of 1,781,234. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group has a 52-week low of $8.52 and a 52-week high of $15.77. The firm has a market capitalization of $1.99 billion, a P/E ratio of 8.26 and a beta of 1.16. The stock has a fifty day moving average price of $9.12 and a two-hundred day moving average price of $10.65.

Wall Street Analyst Weigh In

GOGL has been the subject of several research reports. Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 price target on shares of Golden Ocean Group in a research report on Wednesday.

About Golden Ocean Group

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.