Wall Street analysts predict that Golden Ocean Group Ltd (NASDAQ:GOGL) will post $0.16 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Golden Ocean Group’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.17. The business is scheduled to issue its next earnings results before the market opens on Tuesday, November 20th.

On average, analysts expect that Golden Ocean Group will report full-year earnings of $0.47 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $0.65 per share, with EPS estimates ranging from $0.27 to $1.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Golden Ocean Group.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Friday, August 17th. The shipping company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $140.89 million for the quarter, compared to analysts’ expectations of $98.87 million. Golden Ocean Group had a net margin of 9.34% and a return on equity of 3.71%.

A number of equities research analysts have recently commented on the stock. Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price objective on shares of Golden Ocean Group in a research note on Friday, August 17th. BidaskClub cut shares of Golden Ocean Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 14th. Zacks Investment Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Monday, September 24th. ValuEngine raised shares of Golden Ocean Group from a “strong sell” rating to a “sell” rating in a research note on Monday, September 17th. Finally, Nordea Equity Research cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Golden Ocean Group currently has an average rating of “Hold” and an average target price of $10.90.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Folketrygdfondet grew its stake in Golden Ocean Group by 0.8% in the 2nd quarter. Folketrygdfondet now owns 7,405,969 shares of the shipping company’s stock valued at $64,358,000 after acquiring an additional 57,685 shares during the period. Renaissance Technologies LLC grew its stake in Golden Ocean Group by 34.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,065,282 shares of the shipping company’s stock valued at $20,318,000 after acquiring an additional 534,636 shares during the period. Platinum Investment Management Ltd. acquired a new stake in Golden Ocean Group in the 2nd quarter valued at $140,400,000. Marshall Wace LLP grew its stake in Golden Ocean Group by 45.2% in the 2nd quarter. Marshall Wace LLP now owns 1,548,032 shares of the shipping company’s stock valued at $13,329,000 after acquiring an additional 482,130 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Golden Ocean Group by 465.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,535,666 shares of the shipping company’s stock valued at $15,142,000 after acquiring an additional 1,263,945 shares during the period. 20.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ GOGL traded down $0.13 during midday trading on Monday, reaching $6.76. 151,100 shares of the stock were exchanged, compared to its average volume of 168,056. The stock has a market capitalization of $993.87 million, a price-to-earnings ratio of -338.00 and a beta of 2.42. Golden Ocean Group has a twelve month low of $6.42 and a twelve month high of $10.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.33 and a quick ratio of 1.33.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

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Earnings History and Estimates for Golden Ocean Group (NASDAQ:GOGL)

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