2024-03-05 17:18:32 ET
Summary
- Golden Ocean Group Limited has published its last quarter and FY 2023 results, with adjusted net income and dividends showing improvement.
- The dividend yield on a TTM basis has not been very good, but the current share price suggests expectations for earnings and dividends to rise in 2024.
- The stock market participants may be too optimistic about the dry bulk market for 2024, leading to a downgrade in the bullish call from Buy to Hold.
Investment Thesis
We have been bullish on Golden Ocean Group Limited ( GOGL ) since May 2022 when their ex-CEO stated that "the stars seem to be aligning"....
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For further details see:
Is The Good News Priced In For Golden Ocean's Share Price?