Golden Ocean Group Limited (NASDAQ:GOGL – Get Rating) – Jefferies Financial Group reduced their FY2023 earnings per share (EPS) estimates for Golden Ocean Group in a research note issued on Tuesday, April 4th. Jefferies Financial Group analyst O. Nokta now expects that the shipping company will earn $0.95 per share for the year, down from their previous estimate of $0.96. Jefferies Financial Group currently has a “Hold” rating and a $9.50 target price on the stock. The consensus estimate for Golden Ocean Group’s current full-year earnings is $0.96 per share. Jefferies Financial Group also issued estimates for Golden Ocean Group’s FY2025 earnings at $1.55 EPS.
Several other research firms have also recently issued reports on GOGL. StockNews.com began coverage on Golden Ocean Group in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Pareto Securities cut Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Monday, February 13th.
Golden Ocean Group Trading Down 3.0 %
Hedge Funds Weigh In On Golden Ocean Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP lifted its stake in Golden Ocean Group by 279.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,291,436 shares of the shipping company’s stock worth $9,647,000 after acquiring an additional 951,096 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Golden Ocean Group in the 3rd quarter worth about $600,000. Allspring Global Investments Holdings LLC purchased a new stake in Golden Ocean Group in the 3rd quarter worth about $982,000. Optiver Holding B.V. purchased a new stake in Golden Ocean Group in the 3rd quarter worth about $60,000. Finally, S.E.E.D. Planning Group LLC lifted its stake in Golden Ocean Group by 120.0% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 22,000 shares of the shipping company’s stock worth $191,000 after acquiring an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 37.16% of the company’s stock.
Golden Ocean Group Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Tuesday, February 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.94%. Golden Ocean Group’s dividend payout ratio (DPR) is 34.93%.
Golden Ocean Group Company Profile
Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. It manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It is also involved in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.
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