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MRC Global (NYSE:MRC - Get Rating) posted its earnings results on Monday. The oil and gas company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05, Briefing.com reports. MRC Global had a positive return on equity of 14.63% and a negative net margin of 0.04%. The company had revenue of $848.00 million for the quarter, compared to the consensus estimate of $823.48 million. During the same period in the previous year, the business earned $0.08 earnings per share. MRC Global's quarterly revenue was up 23.6% compared to the same quarter last year. MRC Global Stock Performance
Shares of MRC opened at $11.49 on Tuesday. MRC Global has a one year low of $6.38 and a one year high of $13.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.93 and a quick ratio of 0.98. The stock has a 50-day moving average price of $10.55 and a 200 day moving average price of $10.57. Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Benchmark assumed coverage on MRC Global in a research report on Thursday, July 7th. They set a "buy" rating and a $14.00 target price on the stock. Stifel Nicolaus upped their price target on MRC Global from $14.00 to $16.00 in a research note on Friday, July 8th. Finally, StockNews.com upgraded MRC Global from a "hold" rating to a "buy" rating in a research note on Wednesday, June 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $13.50.Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of MRC. JPMorgan Chase & Co. lifted its holdings in MRC Global by 6.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,193,387 shares of the oil and gas company's stock worth $14,213,000 after buying an additional 70,482 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of MRC Global by 63.4% in the 1st quarter. Raymond James & Associates now owns 30,327 shares of the oil and gas company's stock worth $361,000 after purchasing an additional 11,764 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MRC Global by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 337,546 shares of the oil and gas company's stock worth $4,020,000 after purchasing an additional 1,473 shares during the last quarter. Group One Trading L.P. lifted its holdings in shares of MRC Global by 115.3% in the 1st quarter. Group One Trading L.P. now owns 22,144 shares of the oil and gas company's stock worth $264,000 after purchasing an additional 167,059 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of MRC Global in the 1st quarter worth approximately $190,000. Institutional investors own 94.09% of the company's stock. About MRC Global (Get Rating)
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.Further ReadingGet a free copy of the StockNews.com research report on MRC Global (MRC)Home Depot, Lowe's On Track To Grow 2022 Earnings Could Smaller be Better for Investors in Norwegian Cruise Lines? Walmart Or Target: Which Is The Stronger Stock? Can Etsy Continue to Thrive After the Pandemic? MarketBeat Podcast: Investing in What You Know Has Changed
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