Jefferies Thinks Golden Ocean Group Limited’s Stock is Going to Recover

By George MacDonald

Jefferies analyst Douglas Mavrinac reiterated a Buy rating on Golden Ocean Group Limited (NASDAQ: GOGL) on September 2 and set a price target of $5. The company’s shares opened today at $4.02, close to its 52-week low of $2.55.

According to TipRanks.com, Mavrinac is ranked 0 out of 5 stars with an average return of -2.9% and a 41.7% success rate. Mavrinac covers the Services sector, focusing on stocks such as Navios Maritime Partners Lp, Ship Finance International, and Diana Containerships Inc.

Golden Ocean Group Limited has an analyst consensus of Moderate Buy.

Based on Golden Ocean Group Limited`s latest earnings report from September 30, the company posted quarterly revenue of $65.69M and quarterly net profit of -$40.68M. In comparison, last year the company earned revenue of $49.33M and had a net profit of -$35.55M.

Golden Ocean Group Ltd. is engaged in the management and operation of dry bulk shipping services. Its fleet includes bareboat, chartered, and commercial management vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.