Oceans

Golden Ocean Group Limited to Issue Quarterly Dividend of $ 0.50 (NASDAQ: GOGL)


Golden Ocean Group Limited (NASDAQ: GOGL – Get Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Stockholders of record on Wednesday, June 1st will be given a dividend of 0.50 per share by the shipping company on Friday, June 10th. This represents a $ 2.00 annualized dividend and a dividend yield of 12.48%. The ex-dividend date is Tuesday, May 31st.

Golden Ocean Group has a dividend payout ratio of 178.2% meaning the company cannot currently. Equities analysts expect Golden Ocean Group to earn $ 1.42 per share next year, which means the company may not be able to cover its $ 3.60 annual dividend with an expected future payout ratio of 253.5%.

Golden Ocean Group stock opened at $ 16.02 on Friday. The business has a 50 day moving average of $ 12.74 and a 200-day moving average of $ 10.73. Golden Ocean Group has a 1 year low of $ 7.59 and a 1 year high of $ 16.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.49 and a quick ratio of 1.31. The company has a market capitalization of $ 2.30 billion, a P / E ratio of 6.07 and a beta of 1.28.

Golden Ocean Group (NASDAQ: GOGL – Get Rating) last released its earnings results on Wednesday, May 18th. The shipping company reported $ 0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.35 by $ 0.18. Golden Ocean Group had a net margin of 43.82% and a return on equity of 28.15%. During the same quarter in the prior year, the firm posted $ 0.14 earnings per share. Equities analysts anticipate that Golden Ocean Group will post 1.56 EPS for the current year.

Zacks Investment Research downgraded shares of Golden Ocean Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 19th. HC Wainwright raised their price objective on shares. of Golden Ocean Group from $ 13.00 to $ 18.00 in a research report on Friday. Finally, StockNews.com downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $ 14.50.

A number of large investors have recently modified their holdings of GOGL. Renaissance Technologies LLC lifted its stake in Golden Ocean Group by 285.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,658,689 shares of the shipping company’s stock valued at $ 45,295,000 after acquiring an additional Goldman Sachs Group Inc. increased its position in shares of Golden Ocean Group by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,465,084 shares of the shipping company’s stock valued at $ 104,798,000 after purchasing an additional 1,076,285 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Golden Ocean Group by 139.9% during the 1st quarter. JPMorgan Chase & Co. now owns 670,187 shares of the shipping company’s stock valued at $ 8,296,000 after purchasing an additional 390,850 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of Golden Ocean Gr oup during the 1st quarter valued at $ 1,461,000. Finally, Sei Investments Co. purchased a new stake in shares of Golden Ocean Group during the 1st quarter valued at $ 1,199,000. Institutional investors and hedge funds own 28.68% of the company’s stock.

About Golden Ocean Group (Get Rating)

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.

Further Reading

Dividend History for Golden Ocean Group (NASDAQ: GOGL)



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