Posted by admin on Jun 9th, 2022
MRC Global (NYSE:MRC – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Separately, TheStreet upgraded MRC Global from a “d+” rating to a “c-” rating in a report on Tuesday, March 15th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $10.92.
Shares of NYSE MRC traded down $0.37 during trading on Wednesday, reaching $11.65. The stock had a trading volume of 310,582 shares, compared to its average volume of 779,258. The company has a market cap of $972.58 million, a P/E ratio of -50.65 and a beta of 2.04. The business’s 50-day moving average price is $11.48 and its 200-day moving average price is $9.63. MRC Global has a fifty-two week low of $6.38 and a fifty-two week high of $13.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.98 and a current ratio of 1.93.
MRC Global (NYSE:MRC – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. MRC Global had a positive return on equity of 14.63% and a negative net margin of 0.04%. The firm had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $717.48 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts forecast that MRC Global will post 0.77 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of MRC Global by 13.9% during the first quarter. Bank of America Corp DE now owns 491,403 shares of the oil and gas company’s stock worth $5,852,000 after purchasing an additional 60,140 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MRC Global by 8.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,938,844 shares of the oil and gas company’s stock worth $23,092,000 after purchasing an additional 153,469 shares during the last quarter. Walleye Capital LLC lifted its position in shares of MRC Global by 476.6% during the first quarter. Walleye Capital LLC now owns 147,036 shares of the oil and gas company’s stock worth $1,751,000 after purchasing an additional 121,536 shares during the last quarter. Sawtooth Solutions LLC bought a new position in shares of MRC Global during the first quarter worth about $184,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in MRC Global by 67.8% in the first quarter. BNP Paribas Arbitrage SA now owns 423,307 shares of the oil and gas company’s stock worth $5,042,000 after acquiring an additional 171,056 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.
MRC Global Company Profile (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.
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