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

Marine Harvest ASA (OTCMKTS:MHGVY) issued its quarterly earnings results on Wednesday. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05, Zacks reports. Marine Harvest ASA had a net margin of 11.86% and a return on equity of 13.64%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion.

Marine Harvest ASA Trading Down 1.5%

Marine Harvest ASA stock traded down $0.36 during mid-day trading on Friday, hitting $23.04. The company’s stock had a trading volume of 1,091 shares, compared to its average volume of 24,342. Marine Harvest ASA has a 1 year low of $18.06 and a 1 year high of $24.86. The stock’s fifty day moving average is $22.02 and its two-hundred day moving average is $21.79. The firm has a market capitalization of $12.15 billion, a PE ratio of 14.58 and a beta of 0.85. The company has a current ratio of 3.32, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

Several research firms have commented on MHGVY. Kepler Capital Markets lowered Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. The Goldman Sachs Group raised Marine Harvest ASA to a “hold” rating in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus 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.