Marine Harvest ASA (OTCMKTS:MHGVY) Reaches New 1-Year High – What’s Next?

Marine Harvest ASA (OTCMKTS:MHGVY) shares reached a new 52-week high on Tuesday . The stock traded as high as $24.22 and last traded at $24.07, with a volume of 23955 shares changing hands. The stock had previously closed at $24.06.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MHGVY shares. Berenberg Bank upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Barclays upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Marine Harvest ASA Trading Up 0.0%

The company has a quick ratio of 0.76, a current ratio of 2.70 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $12.69 billion, a P/E ratio of 28.32 and a beta of 1.04. The firm’s 50-day moving average price is $22.69 and its 200 day moving average price is $21.08.

Marine Harvest ASA (OTCMKTS:MHGVY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Marine Harvest ASA had a net margin of 6.99% and a return on equity of 12.66%. As a group, equities research analysts predict that Marine Harvest ASA will post 0.95 earnings per share for the current year.

Marine Harvest ASA Company Profile

Marine Harvest ASA, trading on the OTC Markets under the symbol MHGVY, is a leading global seafood company headquartered in Bergen, Norway. The company specializes in the farming, processing and distribution of Atlantic salmon and other salmonid species, delivering fresh, frozen and value-added products to retail, foodservice and wholesale customers. With a focus on high-quality protein, Marine Harvest’s product portfolio includes whole and portioned fillets, smoked salmon, seafood burgers, ready-to-eat meals and other branded offerings.

Marine Harvest operates a fully integrated value chain spanning broodstock and hatchery operations, fish feed production, farming sites, processing facilities and global sales offices.