Orkla Asa (OTCMKTS:ORKLY) Hits New 52-Week Low – Here’s Why

Orkla Asa (OTCMKTS:ORKLY) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $9.70 and last traded at $9.72, with a volume of 916 shares traded. The stock had previously closed at $9.76.

Wall Street Analyst Weigh In

Separately, UBS Group cut shares of Orkla Asa from a “hold” rating to a “strong sell” rating in a report on Friday, May 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Orkla Asa currently has an average rating of “Reduce”.

Orkla Asa Trading Down 0.7%

The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 13.51 and a beta of 0.34. The business has a fifty day moving average price of $10.61 and a 200 day moving average price of $11.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87.

Orkla Asa (OTCMKTS:ORKLY) last announced its quarterly earnings data on Thursday, August 20th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Orkla Asa had a net margin of 9.63% and a return on equity of 13.85%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.86 billion.

Orkla Asa Company Profile

Orkla ASA is a Norway-based branded consumer goods company and investment group headquartered in Oslo. The company develops, markets and sells everyday products through a portfolio of businesses serving consumers and professional customers primarily in the Nordic and Baltic countries, as well as selected markets in Europe and other regions.

Orkla’s activities span food and beverages, confectionery and snacks, food ingredients, personal care, health products and household goods. Its portfolio includes a range of local and international brands distributed through grocery stores, specialty retailers, food-service channels and other sales outlets.