Golden Ocean Group (NASDAQ:GOGL) Posts Earnings Results, Misses Expectations By $0.14 EPS

Golden Ocean Group (NASDAQ:GOGL) issued its quarterly earnings results on Wednesday. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.14), Zacks reports. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%.

Golden Ocean Group Stock Up 5.5 %

GOGL traded up $0.51 on Wednesday, reaching $9.91. The company’s stock had a trading volume of 4,626,830 shares, compared to its average volume of 1,805,374. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.14 and a beta of 1.16. Golden Ocean Group has a fifty-two week low of $8.52 and a fifty-two week high of $15.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average of $9.12 and a two-hundred day moving average of $10.65.

Analysts Set New Price Targets

Several research firms recently commented on GOGL. Pareto Securities reissued a “hold” rating and set a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group reissued a “hold” rating and set a $10.00 price objective 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.