Golden Ocean Group (GOGL) Stock Forecast, Price Target & Predictions
GOGL Stock Forecast
Golden Ocean Group stock forecast is as follows: an average price target of $16.75 (represents a 43.78% upside from GOGL’s last price of $11.65) and a rating consensus of 'Hold', based on 5 wall street analysts offering a 1-year stock forecast.
GOGL Price Target
The average price target for Golden Ocean Group (GOGL) is $16.75 based on 1-year price targets from 5 Wall Street analysts in the past 3 months, with a price target range of $18.00 to $15.50. This represents a potential 43.78% upside from GOGL's last price of $11.65.
GOGL Analyst Ratings
According to 5 Wall Street analysts, Golden Ocean Group's rating consensus is 'Hold'. The analyst rating breakdown for GOGL stock is 1 'Strong Buy' (20.00%), 1 'Buy' (20.00%), 2 'Hold' (40.00%), 1 'Sell' (20.00%), and 0 'Strong Sell' (0.00%).
Golden Ocean Group Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| May 22, 2024 | Omar Nokta | Jefferies | $15.50 | $14.03 | 10.48% | 33.05% |
| Jul 21, 2022 | - | Jefferies | $14.00 | $10.89 | 28.56% | 20.17% |
| May 20, 2022 | Magnus Fyhr | H.C. Wainwright | $18.00 | $15.57 | 15.57% | 54.51% |
The latest Golden Ocean Group stock forecast, released on May 22, 2024 by Omar Nokta from Jefferies, set a price target of $15.50, which represents a 10.48% increase from the stock price at the time of the forecast ($14.03), and a 33.05% increase from GOGL last price ($11.65).
Golden Ocean Group Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | - | 1 |
| Avg Price Target | - | - | $15.50 |
| Last Closing Price | $11.65 | $11.65 | $11.65 |
| Upside/Downside | -100.00% | -100.00% | 33.05% |
In the current month, the average price target of Golden Ocean Group stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Golden Ocean Group's last price of $11.65. This month's average price target is down NaN% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Jul 30, 2024 | Raymond James | Strong Buy | Strong Buy | Hold |
| Jul 30, 2024 | HSBC | Buy | Buy | Hold |
| May 22, 2024 | Jefferies | Buy | Hold | Downgrade |
| May 06, 2024 | DNB Markets | - | Sell | Downgrade |
| Oct 24, 2023 | Jefferies | Hold | Buy | Upgrade |
| Sep 26, 2022 | Jefferies | Buy | Hold | Downgrade |
| Jul 21, 2022 | Jefferies | - | Buy | Initialise |
| May 20, 2022 | H.C. Wainwright | Neutral | Neutral | Hold |
Golden Ocean Group's last stock rating was published by Raymond James on Jul 30, 2024. The company gave GOGL a "Strong Buy" rating, the same as its previous rate.
Golden Ocean Group Financial Forecast
Golden Ocean Group Revenue Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $196.52M | $249.56M | $282.05M | $316.67M | $265.18M | $381.81M | $387.62M | $275.70M | $158.05M | $168.71M | $185.58M |
| Avg Forecast | $396.03M | $383.24M | $370.86M | $358.88M | $183.29M | $183.29M | $177.91M | $175.95M | $231.00M | $174.00M | $161.67M | $160.20M | $232.80M | $193.95M | $188.88M | $189.47M | $189.46M | $142.98M | $145.79M | $108.76M | $156.72M | $208.95M | $222.24M | $191.27M | $304.69M | $274.78M | $198.98M | $118.41M | $124.27M | $115.71M |
| High Forecast | $417.72M | $404.23M | $391.18M | $378.54M | $193.33M | $193.33M | $187.65M | $185.59M | $243.65M | $183.53M | $170.52M | $168.98M | $245.55M | $204.57M | $199.23M | $199.85M | $199.84M | $150.81M | $153.78M | $114.72M | $165.30M | $220.39M | $222.24M | $191.27M | $304.69M | $274.78M | $198.98M | $118.41M | $124.27M | $115.71M |
| Low Forecast | $385.44M | $372.99M | $360.94M | $349.28M | $178.38M | $178.38M | $173.15M | $171.25M | $224.82M | $169.35M | $157.34M | $155.91M | $226.57M | $188.76M | $183.83M | $184.41M | $184.39M | $139.15M | $141.89M | $105.85M | $152.53M | $203.36M | $222.24M | $191.27M | $304.69M | $274.78M | $198.98M | $118.41M | $124.27M | $115.71M |
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | - | - | 1 | 2 | 2 | 1 | 11 | 9 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.81% | 1.59% | 1.35% | 1.42% | 1.39% | 1.25% | 1.41% | 1.39% | 1.33% | 1.36% | 1.60% |
Golden Ocean Group's average Quarter revenue forecast for Jun 23 based on 1 analysts is $145.79M, with a low forecast of $141.89M, and a high forecast of $153.78M. GOGL's average Quarter revenue forecast represents a -25.81% decrease compared to the company's last Quarter revenue of $196.52M (Mar 23).
Golden Ocean Group EBITDA Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | - | - | 1 | 2 | 2 | 1 | 11 | 9 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $56.00M | $114.33M | $118.96M | $191.78M | $149.08M | $241.85M | $229.05M | $129.81M | $54.45M | $58.10M | $73.38M |
| Avg Forecast | $152.80M | $147.86M | $143.09M | $138.47M | $70.72M | $70.72M | $68.64M | $67.89M | $89.13M | $67.13M | $62.38M | $61.81M | $89.82M | $74.83M | $72.88M | $78.39M | $73.10M | $55.16M | $56.25M | $83.84M | $60.47M | $116.12M | $85.74M | $89.67M | $117.56M | $106.02M | $76.77M | $27.95M | $47.95M | $44.64M |
| High Forecast | $161.17M | $155.96M | $150.93M | $146.05M | $74.59M | $74.59M | $72.40M | $71.61M | $94.01M | $70.81M | $65.79M | $65.20M | $94.74M | $78.93M | $76.87M | $94.07M | $77.10M | $58.19M | $59.33M | $100.61M | $63.78M | $139.34M | $85.74M | $107.60M | $117.56M | $106.02M | $76.77M | $33.54M | $47.95M | $44.64M |
| Low Forecast | $148.71M | $143.91M | $139.26M | $134.76M | $68.83M | $68.83M | $66.81M | $66.07M | $86.74M | $65.34M | $60.71M | $60.16M | $87.42M | $72.83M | $70.93M | $62.71M | $71.14M | $53.69M | $54.75M | $67.07M | $58.85M | $92.89M | $85.74M | $71.74M | $117.56M | $106.02M | $76.77M | $22.36M | $47.95M | $44.64M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.67% | 1.89% | 1.02% | 2.24% | 1.66% | 2.06% | 2.16% | 1.69% | 1.95% | 1.21% | 1.64% |
1 analysts predict GOGL's average Quarter EBITDA for Jun 23 to be $56.25M, with a high of $59.33M and a low of $54.75M. This is 0.45% upper than Golden Ocean Group's previous annual EBITDA (Mar 23) of $56.00M.
Golden Ocean Group Net Income Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | - | - | 1 | 2 | 2 | 1 | 11 | 9 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-8.82M | $68.21M | $104.56M | $163.75M | $125.32M | $203.82M | $195.33M | $104.50M | $23.58M | $25.37M | $39.06M |
| Avg Forecast | $100.89M | $99.97M | $97.33M | $94.75M | $97.41M | $96.49M | $86.03M | $83.63M | $96.15M | $58.83M | $44.81M | $38.69M | $98.39M | $60.42M | $56.29M | $58.54M | $53.35M | $12.67M | $22.18M | $62.61M | $44.55M | $94.70M | $117.14M | $66.96M | $181.64M | $138.87M | $89.22M | $11.12M | $39.60M | $25.01M |
| High Forecast | $108.08M | $107.09M | $104.26M | $101.50M | $104.35M | $103.36M | $92.16M | $89.59M | $103.00M | $63.02M | $48.00M | $41.44M | $105.40M | $64.72M | $60.30M | $70.24M | $57.15M | $13.57M | $23.76M | $75.13M | $47.72M | $113.64M | $117.14M | $80.35M | $181.64M | $138.87M | $89.22M | $13.34M | $39.60M | $25.01M |
| Low Forecast | $97.39M | $96.50M | $93.95M | $91.46M | $94.03M | $93.14M | $83.04M | $80.72M | $92.81M | $56.78M | $43.25M | $37.34M | $94.97M | $58.32M | $54.33M | $46.83M | $51.49M | $12.23M | $21.41M | $50.08M | $43.00M | $75.76M | $117.14M | $53.57M | $181.64M | $138.87M | $89.22M | $8.89M | $39.60M | $25.01M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.14% | 1.53% | 1.10% | 1.40% | 1.87% | 1.12% | 1.41% | 1.17% | 2.12% | 0.64% | 1.56% |
Golden Ocean Group's average Quarter net income forecast for Mar 23 is $62.61M, with a range of $50.08M to $75.13M. GOGL's average Quarter net income forecast represents a -8.21% decrease compared to the company's last Quarter net income of $68.21M (Dec 22).
Golden Ocean Group SG&A Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | - | - | 1 | 2 | 2 | 1 | 11 | 9 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $4.16M | $4.96M | $4.79M | $5.50M | $5.13M | $4.83M | $4.60M | $4.61M | $4.12M | $4.02M | $3.10M |
| Avg Forecast | $7.69M | $7.44M | $7.20M | $6.97M | $3.56M | $3.56M | $3.45M | $3.42M | $4.48M | $3.38M | $3.14M | $3.11M | $4.52M | $3.76M | $3.67M | $2.39M | $3.68M | $2.78M | $2.83M | $2.56M | $3.04M | $2.23M | $4.31M | $2.74M | $5.91M | $5.33M | $3.86M | $1.94M | $2.41M | $2.25M |
| High Forecast | $8.11M | $7.85M | $7.59M | $7.35M | $3.75M | $3.75M | $3.64M | $3.60M | $4.73M | $3.56M | $3.31M | $3.28M | $4.77M | $3.97M | $3.87M | $2.87M | $3.88M | $2.93M | $2.98M | $3.07M | $3.21M | $2.68M | $4.31M | $3.29M | $5.91M | $5.33M | $3.86M | $2.33M | $2.41M | $2.25M |
| Low Forecast | $7.48M | $7.24M | $7.01M | $6.78M | $3.46M | $3.46M | $3.36M | $3.32M | $4.36M | $3.29M | $3.05M | $3.03M | $4.40M | $3.66M | $3.57M | $1.92M | $3.58M | $2.70M | $2.75M | $2.05M | $2.96M | $1.78M | $4.31M | $2.19M | $5.91M | $5.33M | $3.86M | $1.55M | $2.41M | $2.25M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.63% | 1.63% | 2.15% | 1.27% | 1.87% | 0.82% | 0.86% | 1.19% | 2.12% | 1.67% | 1.38% |
Golden Ocean Group's average Quarter SG&A projection for Jun 23 is $2.83M, based on 1 Wall Street analysts, with a range of $2.75M to $2.98M. The forecast indicates a -32.01% fall compared to GOGL last annual SG&A of $4.16M (Mar 23).
Golden Ocean Group EPS Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | - | - | - | - | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | - | - | 1 | 2 | 2 | 1 | 11 | 9 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-0.04 | $0.34 | $0.52 | $0.82 | $0.63 | $1.02 | $0.97 | $0.52 | $0.14 | $0.18 | $0.27 |
| Avg Forecast | $0.50 | $0.50 | $0.49 | $0.47 | $0.49 | $0.48 | $0.43 | $0.42 | $0.48 | $0.29 | $0.22 | $0.19 | $0.49 | $0.30 | $0.28 | $0.27 | $0.27 | $0.06 | $0.11 | $-0.03 | $0.22 | $0.43 | $0.59 | $0.39 | $0.91 | $0.70 | $0.45 | $0.11 | $0.20 | $0.13 |
| High Forecast | $0.54 | $0.54 | $0.52 | $0.51 | $0.52 | $0.52 | $0.46 | $0.45 | $0.51 | $0.32 | $0.24 | $0.21 | $0.53 | $0.32 | $0.30 | $0.29 | $0.29 | $0.07 | $0.12 | $-0.03 | $0.24 | $0.46 | $0.59 | $0.39 | $0.91 | $0.70 | $0.45 | $0.11 | $0.20 | $0.13 |
| Low Forecast | $0.49 | $0.48 | $0.47 | $0.46 | $0.47 | $0.47 | $0.42 | $0.40 | $0.46 | $0.28 | $0.22 | $0.19 | $0.47 | $0.29 | $0.27 | $0.26 | $0.26 | $0.06 | $0.11 | $-0.03 | $0.21 | $0.41 | $0.59 | $0.39 | $0.91 | $0.70 | $0.45 | $0.11 | $0.20 | $0.13 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.53% | 1.53% | 1.21% | 1.40% | 1.63% | 1.12% | 1.39% | 1.16% | 1.22% | 0.91% | 2.16% |
According to 1 Wall Street analysts, Golden Ocean Group's projected average Quarter EPS for Mar 23 is $-0.03, with a low estimate of $-0.03 and a high estimate of $-0.03. This represents a -108.47% decrease compared to GOGL previous annual EPS of $0.34 (Dec 22).
Golden Ocean Group Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| GOGL | Golden Ocean Group | $11.65 | $16.75 | 43.78% | Hold |
| DAC | Danaos | $78.84 | $105.00 | 33.18% | Buy |
| SBLK | Star Bulk Carriers | $20.80 | $27.33 | 31.39% | Buy |
| DSX | Diana Shipping | $2.35 | $3.00 | 27.66% | Hold |
| GSL | Global Ship Lease | $24.07 | $29.00 | 20.48% | Buy |
| GNK | Genco Shipping & Trading | $17.24 | $20.67 | 19.90% | Buy |
| CMRE | Costamare | $13.60 | $14.50 | 6.62% | Buy |
GOGL Forecast FAQ
Is Golden Ocean Group a good buy?
No, according to 5 Wall Street analysts, Golden Ocean Group (GOGL) is considered a 'Hold'. The rating consensus is based on 1 'Strong Buy' and 1 'Buy' recommendations, accounting for 40.00% of GOGL's total ratings.
What is GOGL's price target?
Golden Ocean Group (GOGL) average price target is $16.75 with a range of $15.5 to $18, implying a 43.78% from its last price of $11.65. The data is based on 5 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Golden Ocean Group stock go up soon?
According to Wall Street analysts' prediction for GOGL stock, the company can go up by 43.78% (from the last price of $11.65 to the average price target of $16.75), up by 54.51% based on the highest stock price target, and up by 33.05% based on the lowest stock price target.
Can Golden Ocean Group stock reach $20?
GOGL's average twelve months analyst stock price target of $16.75 does not support the claim that Golden Ocean Group can reach $20 in the near future.
What are Golden Ocean Group's analysts' financial forecasts?
Golden Ocean Group's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $720.44M (high $759.9M, low $701.16M), average EBITDA is $277.96M (high $293.19M, low $270.53M), average net income is $363.57M (high $389.46M, low $350.93M), average SG&A $13.98M (high $14.75M, low $13.61M), and average EPS is $1.82 (high $1.95, low $1.75). GOGL's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $1.51B (high $1.59B, low $1.47B), average EBITDA is $582.22M (high $614.11M, low $566.64M), average net income is $392.96M (high $420.94M, low $379.29M), average SG&A $29.29M (high $30.9M, low $28.51M), and average EPS is $1.96 (high $2.1, low $1.9).
Did the GOGL's actual financial results beat the analysts' financial forecasts?
Based on Golden Ocean Group's last annual report (Dec 2022), the company's revenue was $1.11B, beating the average analysts forecast of $779.17M by 42.90%. Apple's EBITDA was $574.16M, beating the average prediction of $352M by 63.12%. The company's net income was $461.85M, beating the average estimation of $323.34M by 42.84%. Apple's SG&A was $20.38M, beating the average forecast of $12.33M by 65.30%. Lastly, the company's EPS was $2.4, beating the average prediction of $1.62 by 47.74%. In terms of the last quarterly report (Mar 2023), Golden Ocean Group's revenue was $196.52M, beating the average analysts' forecast of $108.76M by 80.69%. The company's EBITDA was $56M, missing the average prediction of $83.84M by -33.21%. Golden Ocean Group's net income was $-8.822M, missing the average estimation of $62.61M by -114.09%. The company's SG&A was $4.16M, beating the average forecast of $2.56M by 62.50%. Lastly, the company's EPS was $-0.044, beating the average prediction of $-0.0288 by 52.78%