Marine Harvest ASA (OTCMKTS:MHGVY) Hits New 12-Month High – What’s Next?

Shares of Marine Harvest ASA (OTCMKTS:MHGVY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.49 and last traded at $24.49, with a volume of 2974 shares changing hands. The stock had previously closed at $23.91.

Wall Street Analyst Weigh In

MHGVY has been the topic of a number of recent analyst reports. Pareto Securities upgraded 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 shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Marine Harvest ASA Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.70 and a quick ratio of 0.76. The company has a 50 day simple moving average of $23.28 and a 200-day simple moving average of $22.12. The stock has a market capitalization of $12.82 billion, a P/E ratio of 15.29 and a beta of 1.02.

Marine Harvest ASA (OTCMKTS:MHGVY) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). Marine Harvest ASA had a return on equity of 12.85% and a net margin of 13.70%.The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.29 billion. On average, equities analysts forecast that Marine Harvest ASA will post 0.95 EPS for the current 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.