Marine Harvest ASA (OTCMKTS:MHGVY) Reaches New 12-Month High – Should You Buy?

Marine Harvest ASA (OTCMKTS:MHGVY) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.37 and last traded at $24.2050, with a volume of 9713 shares changing hands. The stock had previously closed at $23.66.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MHGVY. Berenberg Bank upgraded shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Barclays upgraded shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Finally, Pareto Securities raised Marine Harvest ASA to a “hold” rating in a research report on Friday, January 16th. Three analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marine Harvest ASA presently has an average rating of “Buy”.

Marine Harvest ASA Stock Performance

The company has a current ratio of 2.70, a quick ratio of 0.76 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $12.70 billion, a PE ratio of 28.34 and a beta of 1.02. The firm’s fifty day moving average price is $23.21 and its two-hundred day moving average price is $21.93.

Marine Harvest ASA (OTCMKTS:MHGVY) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.30 earnings per share for the quarter. Marine Harvest ASA had a return on equity of 12.66% and a net margin of 6.99%. As a group, equities research 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.