GOGL Stock Recent News

Golden Ocean is a global dry bulk shipping company that has recently experienced a downturn in its financials due to macroeconomic pressures. The company can sustain dividend payments as a result of the gradual rebound in the industry demand, which makes the annual dividend $0.40, representing a dividend yield of 5.20%. Despite the risk of fluctuating charter rates, the stock is undervalued and has the potential for 29.29% growth, with a decent dividend yield.

Golden Ocean Group (GOGL) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.81 per share a year ago.

GOGL's future contracted TCE rates continue to impress, demonstrating its market leadership thanks to the fuel-efficient/ younger fleets with an average age of 6.5 years. While FQ2'23 may remain impacted, due to the increased dry docking and elevated interest rate environment, we remain confident about its execution in the intermediate term. Its balance sheet appears healthy too, despite the strategic fleet renewals and sustained dividend payout.

Golden Ocean Group's (GOGL) share price has dropped 43% since being upgraded to a Buy a year ago, but the company's financial performance and business prospects remain strong. GOGL's fleet is modern with an average age of 6.7 years, and the company has a net long-term debt of $985.9 million on a fleet valued at $2,693 million. Despite risks to the demand for steel in China, the supply and demand dynamics for the dry bulk market look promising for the next 24 months, supporting a continued Buy stance for GOGL.

Golden Ocean Group may still have long-term growth potential despite the slower-than-expected impact of China's reopening on the dry bulk carrier industry. The company's financials remain strong, and a recent UBS survey shows CFOs in China are optimistic about business conditions and capital expenditure in H2 2023. GOGL's focus on fleet renewal and commitment to dividends make it a favorable investment for long-term investors, with the potential for a 57% increase in share price over the next 2 years.

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.

Golden Ocean Group (GOGL) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to earnings of $0.53 per share a year ago.

Star Bulk: The Market Outlook, The Peers, And The Risks.

Investors need not look far to obtain hints of dry bulker recovery, given GOGL's higher TCE rates in FQ2'23. FQ1'23 may be temporarily painful, due to its lower contracted TCE rates and impact from rising inflationary pressures/ elevated interest rates.

Golden Ocean Group Limited (NASDAQ:GOGL ) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Ulrik Andersen - Chief Executive Officer Peder Simonsen - Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies Sherif Elmaghrabi - BTIG Operator Good day and thank you for standing by. Welcome to the Fourth Quarter 2022 Golden Ocean Group Limited Earnings Conference Call.