Marine Harvest ASA

Marine Harvest is a seafood company engaged in the production of farmed salmon. Co. offers fresh and processed salmon and other processed seafood to customers in 70 countries worldwide. Co. focuses on three principal types of production activities: salmon feed production in Norway, fish farming and primary processing of fish in Norway, Scotland, Canada, Chile, Ireland, and the Faroe Islands, and secondary processing of seafood in Norway, Chile, Ireland, the United States, the United Kingdom, France, Belgium, the Netherlands, Poland, the Czech Republic, Japan, Vietnam, Taiwan, and South Korea.
  • TickerMHG
  • ISINNO0003054108
  • ExchangeOslo Bors
  • SectorFood Producers
  • CountryNorway

Analysts

Alexander Aukner ...
  • Eivind Sars Veddeng
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner

Mowi (Hold, TP: NOK180.00) - Q4 operational EBIT 6% below consensus

The Q4 trading update revealed operational EBIT of EUR211m, 1% below our EUR213m and 6% below consensus of EUR224m. However, stripping out EUR10m in insurance-related income, the underlying miss was 6–10%. We expect consensus 2018e EPS to be cut by 2% following the trading update. The full Q4 report is due at 06:30 CET on 13 February.

Alexander Aukner ...
  • Tone Bjørnstad Hanstad

Seafood - The Fat Trout Weekly

Seafood - The Fat Trout Weekly

Alexander Aukner ...
  • Martin Arnell
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner

MOWI (Hold, TP: NOK180.00) - 16% below consensus Q4 earnings

We forecast Q4 operational EBIT of EUR213m, ~16% below consensus of EUR252m. We have trimmed our 2018e EPS by 2.1% to reflect the lower spot price in Q4 than we expected, and cut our target price to NOK180 (200), but reiterate our HOLD recommendation. Mowi normally releases its trading update approximately two weeks after the end of each quarter; its full Q4 report is due to be released at 06:30 CET on 13 February.

Alexander Aukner

Mowi (Hold, TP: NOK180.00) - Q4 operational EBIT 6% below consensus

The Q4 trading update revealed operational EBIT of EUR211m, 1% below our EUR213m and 6% below consensus of EUR224m. However, stripping out EUR10m in insurance-related income, the underlying miss was 6–10%. We expect consensus 2018e EPS to be cut by 2% following the trading update. The full Q4 report is due at 06:30 CET on 13 February.

Alexander Aukner ...
  • Tone Bjørnstad Hanstad

Seafood - The Fat Trout Weekly

Seafood - The Fat Trout Weekly

Alexander Aukner

MOWI (Hold, TP: NOK180.00) - 16% below consensus Q4 earnings

We forecast Q4 operational EBIT of EUR213m, ~16% below consensus of EUR252m. We have trimmed our 2018e EPS by 2.1% to reflect the lower spot price in Q4 than we expected, and cut our target price to NOK180 (200), but reiterate our HOLD recommendation. Mowi normally releases its trading update approximately two weeks after the end of each quarter; its full Q4 report is due to be released at 06:30 CET on 13 February.

Alexander Aukner ...
  • Tone Bjørnstad Hanstad

Seafood - The Fat Trout Weekly

Seafood - The Fat Trout Weekly

Alexander Aukner ...
  • Tone Bjørnstad Hanstad

Seafood - The Fat Trout Weekly

Seafood - The Fat Trout Weekly

1 director sold after exercising options/sold

A director at Marine Harvest Asa sold after exercising options/sold 1,600,000 shares at 179.737NOK and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted und...

Alexander Aukner ...
  • Eivind Sars Veddeng
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Martin Arnell
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jesper Ingildsen
  • Karl-Johan Bonnevier
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Antti Kansanen
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Berggren
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Alexander Aukner ...
  • Antti Kansanen
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 15/01/2018

In general, Marine Harvest is in compliance with the Norwegian regulations relating to the organisation and procedures of an EGM. Under ITEM 4, the nomination committee proposes to appoint Mr. Kristian Melhuus as Member of the board of directors. Based on the available information, Mr. Melhuus would not be considered independent since he is serving as Director of Seatankers Management Norway AS, a company affiliated with Marine Harvest's largest shareholder Geveran Trading Co. Ltd. In light of insufficient independent representation on the board, ECGS recommends to vote OPPOSE.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

As support levels continue to hold for the MSCI ACWI and S&P 500, our neutral but constructive outlook remains. Additionally, we reiterate our expectation for more consolidation and volatility. In today's report we highlight actionable stocks within countries that are displaying bullish price and relative strength trends. • Asia/Pacific. In Japan, the TOPIX continues to exhibit leadership characteristics. Stay overweight. Broadly speaking, global Consumer Staples stocks are lagging, but Japan is the exception. Hong Kong's Hang Seng Index also remains on bullish footing... see pages 2 and 5-11...

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