Marine Harvest ASA (OTCMKTS:MHGVY) Trading 1.9% Higher – Here’s Why

Marine Harvest ASA (OTCMKTS:MHGVY) shares rose 1.9% on Friday . The company traded as high as $23.6810 and last traded at $23.68. Approximately 8,480 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 13,942 shares. The stock had previously closed at $23.24.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Pareto Securities raised Marine Harvest ASA to a “hold” rating in a report on Friday, January 16th. Berenberg Bank upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Finally, Barclays raised Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Marine Harvest ASA Stock Up 1.9%

The business has a 50-day simple moving average of $23.16 and a two-hundred day simple moving average of $21.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.76 and a current ratio of 2.70. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 27.86 and a beta of 1.02.

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