Marine Harvest ASA (OTCMKTS:MHGVY) Sets New 12-Month Low on Analyst Downgrade

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

Separately, Kepler Capital Markets upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Three analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Marine Harvest ASA Trading Down 1.1%

The company has a current ratio of 3.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.68. The stock has a 50-day simple moving average of $20.90 and a 200 day simple moving average of $22.34. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 9.70 and a beta of 0.93.

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

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.