Golden Ocean Group Limited (GOGL) To Go Ex-Dividend on December 9th

Golden Ocean Group Limited (NASDAQ:GOGL) announced a quarterly dividend on Wednesday, November 27th,NASDAQ Dividends reports. Shareholders of record on Monday, December 9th will be given a dividend of 0.30 per share by the shipping company on Wednesday, December 18th. This represents a $1.20 annualized dividend and a yield of 11.89%. The ex-dividend date of this dividend is Monday, December 9th.

Golden Ocean Group has increased its dividend payment by an average of 115.4% per year over the last three years. Golden Ocean Group has a dividend payout ratio of 72.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Golden Ocean Group to earn $1.70 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 70.6%.

Golden Ocean Group Trading Down 7.1 %

Golden Ocean Group stock opened at $10.09 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market cap of $2.02 billion, a PE ratio of 8.34 and a beta of 1.20. The stock’s 50 day simple moving average is $11.73 and its two-hundred day simple moving average is $12.56. Golden Ocean Group has a 12 month low of $8.42 and a 12 month high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $197.35 million during the quarter, compared to the consensus estimate of $187.74 million. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. Analysts anticipate that Golden Ocean Group will post 1.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOGL. Pareto Securities reaffirmed a “hold” rating and set a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Jefferies Financial Group reduced their price objective on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research note on Wednesday.

Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.