In a report released on November 11, Christian Nordby from Kepler Capital downgraded Grieg Seafood ASA (GRGSF – Research Report) to a Sell, with a price target of NOK60.00. The company’s shares closed last Monday at $7.21.
According to TipRanks, Nordby is an analyst with an average return of -2.9% and a 41.25% success rate.
Currently, the analyst consensus on Grieg Seafood ASA is a Hold with an average price target of $9.28.
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Based on Grieg Seafood ASA’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.35 billion and a net profit of $679.28 million. In comparison, last year the company earned a revenue of $1.12 billion and had a net profit of $124.04 million
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Grieg Seafood ASA engages in farming of salmon and trout. It operates through the following geographical segments: Rogaland-Norway, Finnmark-Norway, British Columbia-Canada, and Shetland-United Kingdom. The company was founded in 1992 and is headquartered in Bergen, Norway.
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