Marine Harvest ASA (OTCMKTS:MHGVY) Announces Quarterly Earnings Results

Key Points

• Marine Harvest reported quarterly EPS of $0.38, topping analyst expectations of $0.33. Net margin was 11.19%, and return on equity was 11.74%.
• Shares rose 0.2% to $23.53 during Wednesday trading.
• Analyst sentiment was mixed but leaned positive: MarketBeat’s consensus rating was “Moderate Buy,” with two Strong Buy ratings and three Hold ratings.

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.38 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%.

Marine Harvest ASA Trading Up 0.2%

Shares of OTCMKTS MHGVY traded up $0.06 during trading hours on Wednesday, hitting $23.53. The company's stock had a trading volume of 2,958 shares, compared to its average volume of 24,496. Marine Harvest ASA has a 12 month low of $18.06 and a 12 month high of $24.86. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 16.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 3.32. The business has a 50-day simple moving average of $21.98 and a 200-day simple moving average of $21.78.

Analyst Ratings Changes

Several analysts have issued reports on MHGVY shares. Kepler Capital Markets lowered shares of Marine Harvest ASA from a "strong-buy" rating to a "hold" rating in a research report 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 assigned a Hold rating to the company's stock. According to MarketBeat, the company currently 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.

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