Marine Harvest ASA (OTCMKTS:MHGVY) Hits New 52-Week Low on Analyst Downgrade

Marine Harvest ASA (OTCMKTS:MHGVY)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Pareto Securities downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $18.30 and last traded at $18.35, with a volume of 908 shares trading hands. The stock had previously closed at $19.38.

Separately, Kepler Capital Markets upgraded shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Marine Harvest ASA presently has an average rating of “Strong Buy”.

Marine Harvest ASA Price Performance

The company has a 50-day moving average of $20.90 and a two-hundred day moving average of $22.34. The stock has a market capitalization of $9.62 billion, a PE ratio of 9.70 and a beta of 0.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.15 and a quick ratio of 1.02.

Marine Harvest ASA (OTCMKTS:MHGVY) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Marine Harvest ASA had a return on equity of 11.68% and a net margin of 15.18%.

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.