Golden Ocean Group Limited (NASDAQ:GOGL) finished Friday with a subtraction of -$0.06 to close at $6.94, a downside of -0.86 percent. An average of 1,263,080 shares of common stock have been traded in the last five days. There was a fall of -$0.52 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,249,550 shares traded, while the 50-day average volume stands at 1,288,970.
GOGL stock has decreased by -7.47% in the last month. The company shares reached their 1-month lowest point of $6.89 on 08/25/23. With the stock rallying to its 52-week high on 03/01/23, shares of the company touched a low of $6.99 and a high of $10.98 in 52 weeks. It has reached a new high 15 times so far this year and lost -20.14% or -$1.75 in price. In spite of this, the price is down -36.79% from the 52-week high.
Valuation Metrics
Golden Ocean Group Limited (GOGL) has a trailing price-to-earnings (P/E) ratio of 4.25. The stock’s beta is 1.30. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.35, the price-to-book (PB) ratio at 0.82, and the price-to-cash flow ratio at 5.49.
The company has a payout ratio of 70.30%. The company’s most recent quarterly dividend payment was $0.10 a share, representing a down of -50.0% from $0.20 last year. Its latest decrease dividend $0.10 reported on Tuesday May 16 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.64 and a total debt to equity ratio of 0.70 for the quarter ending March 30. Golden Ocean Group Limited’s EBITDA margin for the year ending March 30 is 47.70%, while its operating margin for the same period stands at 32.70%. Its gross profit as reported stood at $551.53 million compared to revenue of $1.11 billion.
Earnings Surprise
For the three-month period that ended March 30, Golden Ocean Group Limited had $1.03 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $461.85 million in the quarter, while revenues were shrunk -14.15%. The analyst consensus anticipated Golden Ocean Group Limited’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be -$0.04, a 0.00% surprise. For the quarter, EBITDA amounted to $40.52 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Golden Ocean Group Limited (GOGL) price momentum. RSI 9-day as of the close on 25 August was 21.74%, suggesting the stock is oversold, with historical volatility in this time frame at 24.73%.
As of today, GOGL’s price is $7.13 -6.97% or -$0.52 from its 5-day moving average. GOGL is currently trading -10.22% lower than its 20-day SMA and -24.32% lower than its 100-day SMA. However, the stock’s current price level is -10.45% below the SMA50 and -23.90% below the SMA200.
The stochastic %K and %D were 9.52% and 13.96%, respectively, and the average true range (ATR) was 0.17. With the 14-day stochastic at 5.03% and the average true range at 0.18, the RSI (14) stands at 30.47%. The stock has reached -0.26 on the 9-day MACD Oscillator while the 14-day reading was at -0.39.
Analyst Ratings
Jefferies downgraded Golden Ocean Group Limited (NASDAQ: GOGL) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy.
What is GOGL’s price target for the next 12 months?
Analysts predict a range of price targets between $7.22 and $18.01, with a median target of $11.25. Taking a look at these predictions, the average price target given by analysts for Golden Ocean Group Limited (GOGL) stock is $11.43.
