The stock of Golden Ocean Group Limited (NASDAQ:GOGL) increased by $0.44 on Tuesday to finish at $7.34, up 6.38 percent. The last five days have seen an average of 1,579,480 shares of common stock traded. 15 times new highs were reached in the current year, with a fall of -$1.35. The average number of shares traded over the last 20 days was 1,317,875, while the average volume over the last 50 days totaled 1,300,868.
GOGL stock dropped -6.38% since last month. On 08/28/23, the company’s shares reached a one-month low of $6.89. The stock touched a high of $10.58 on 03/01/23, after rallying from a low of $6.89 in 52 weeks. The price of GOGL stock has declined by -15.54% or -$1.35 this year, reaching a new high 15 times. Still, the stock price is down -30.62% from the 52-week high.
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Valuation Metrics
Golden Ocean Group Limited (GOGL) has a trailing price-to-earnings (P/E) ratio of 4.49. Beta for the stock is 1.30. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.42, the price-to-book (PB) ratio of 0.87, and the price-to-cash flow ratio of 5.77.
Company paid $0.10 per share in dividends, a decrease of -50.0% from $0.20 last year. A $0.10 dividend decrease was reported on Tuesday May 16 2023.
Financial Health
For the three months ended March 30, Golden Ocean Group Limited’s current ratio was 1.10. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.64, and the total debt to equity ratio is 0.70. As far as profitability goes, gross margin for the trailing twelve months is 50.60% percent. Golden Ocean Group Limited’s EBITDA margin for the year ended March 30 was 47.70%, whereas its operating margin stood at 32.70% for the same period. Based on annual data, it had gross profit of $551.53 million and revenue of $1.11 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GOGL’s return on assets (ROA) during the last 12 months has been 9.90%. There was a 13.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 17.10%.
Earnings Surprise
According to Golden Ocean Group Limited’s quarterly financial report for the quarter that ended March 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.11 billion, while revenues fell by -8.06% to $0.0. It was predicted that Golden Ocean Group Limited’s quarterly earnings would be -$0.04, but it ended up being -$0.04. EBITDA was $40.52 million for the quarter. At the end of Golden Ocean Group Limited’s most recent quarter ended March 30, its liabilities totaled 1.45 billion, while its total debt was $1.32 billion.
Technical Picture
Here’s a quick look at Golden Ocean Group Limited’s (GOGL) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 50.90%, suggesting the stock is Neutral, with a 43.49% historical volatility rate.
The stochastic %K and %D were 18.71% and 12.49% respectively, while the average true range (ATR) was 0.20. Based on the 14-day stochastic reading of 50.00%, the RSI (14) reading is 48.03%. On the 9-day MACD Oscillator, the stock is at -0.15, and the 14-day reading is at -0.30.
Analyst Ratings
Golden Ocean Group Limited (NASDAQ: GOGL) was downgraded by Jefferies to a a Hold rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Golden Ocean Group Limited (GOGL) an Overweight rating. GOGL is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is GOGL’s price target for the next 12 months?
The current consensus forecast for the stock is between $7.22 and $18.08, with a median target price of $11.24. In analyzing these forecasts, the average price target given by analysts for Golden Ocean Group Limited (GOGL) is $11.33.
