Orkla Asa (OTCMKTS:ORKLY) Hits New 1-Year Low – Here’s What Happened

Orkla Asa (OTCMKTS:ORKLY) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.91 and last traded at $9.91, with a volume of 352385 shares changing hands. The stock had previously closed at $9.99.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered Orkla Asa from a “hold” rating to a “strong sell” rating in a report on Friday, May 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Orkla Asa has an average rating of “Reduce”.

Orkla Asa Stock Down 0.3%

The firm’s 50-day simple moving average is $10.71 and its 200-day simple moving average is $11.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.85 and a beta of 0.34.

Orkla Asa (OTCMKTS:ORKLY) last issued its earnings results on Thursday, August 20th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Orkla Asa had a return on equity of 13.85% and a net margin of 9.63%.

About Orkla Asa

Orkla ASA is a Norway-based branded consumer goods company and investment group headquartered in Oslo. The company develops, markets and sells everyday products through a portfolio of businesses serving consumers and professional customers primarily in the Nordic and Baltic countries, as well as selected markets in Europe and other regions.

Orkla’s activities span food and beverages, confectionery and snacks, food ingredients, personal care, health products and household goods. Its portfolio includes a range of local and international brands distributed through grocery stores, specialty retailers, food-service channels and other sales outlets.