Marine Harvest ASA (OTCMKTS:MHGVY) Announces Earnings Results, Beats Estimates By $0.05 EPS

Marine Harvest ASA (OTCMKTS:MHGVY) issued its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05, Zacks reports. Marine Harvest ASA had a net margin of 11.19% and a return on equity of 11.74%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion.

Marine Harvest ASA Stock Up 0.2%

Shares of OTCMKTS:MHGVY traded up $0.06 during midday trading on Thursday, reaching $23.55. 1,027 shares of the company were exchanged, compared to its average volume of 24,411. The firm has a market cap of $12.42 billion, a PE ratio of 16.58 and a beta of 0.85. Marine Harvest ASA has a fifty-two week low of $18.06 and a fifty-two week high of $24.86. The stock has a fifty day simple moving average of $22.01 and a two-hundred day simple moving average of $21.78. The company has a quick ratio of 1.11, a current ratio of 3.32 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Marine Harvest ASA to a “hold” rating in a report on Friday, October 2nd. Kepler Capital Markets downgraded Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Marine Harvest ASA Company Profile

Marine Harvest ASA was a Norway-based seafood company focused on the farming, processing and sale of Atlantic salmon. Its operations included hatcheries, marine fish farms, processing facilities and seafood distribution, supporting an integrated value chain from egg production through finished food products.

The company marketed fresh and prepared salmon products to retailers, food-service operators and other customers in international markets. Its activities historically covered major salmon-farming regions including Norway, Scotland, Chile, Canada, Ireland and the Faroe Islands, with products sold across Europe, the Americas and Asia.

Marine Harvest changed its name to Mowi ASA in 2019, adopting the name associated with one of its historical salmon brands.