Marine Harvest ASA (OTCMKTS:MHGVY) Hits New 12-Month High – Still a Buy?

Marine Harvest ASA (OTCMKTS:MHGVY) shares reached a new 52-week high on Tuesday . The stock traded as high as $24.11 and last traded at $24.01, with a volume of 8564 shares traded. The stock had previously closed at $23.90.

Wall Street Analysts Forecast Growth

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

Marine Harvest ASA Stock Performance

The company has a market cap of $12.66 billion, a PE ratio of 28.25 and a beta of 1.04. 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 firm’s 50 day moving average is $22.54 and its 200-day moving average is $20.90.

Marine Harvest ASA (OTCMKTS:MHGVY) last issued its 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). Marine Harvest ASA had a return on equity of 12.66% and a net margin of 6.99%.The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, research analysts anticipate that Marine Harvest ASA will post 0.95 earnings per share for the current fiscal year.

About Marine Harvest ASA

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.