Press coverage about MRC Global (NYSE:MRC) has trended somewhat positive this week, according to Alpha One. The research firm, a service of Accern, identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. MRC Global earned a news sentiment score of 0.25 on Alpha One’s scale. Alpha One also gave news stories about the oil and gas company an impact score of 71 out of 100, indicating that recent news coverage is likely to have an effect on the company’s share price in the immediate future.
A number of research analysts have recently commented on the company. Susquehanna Bancshares Inc assumed coverage on MRC Global in a report on Tuesday, April 11th. They set a “positive” rating and a $23.00 price objective on the stock. Raymond James Financial, Inc. upgraded MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, April 19th. Seaport Global Securities upgraded MRC Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $25.00 in a research note on Tuesday, February 21st. Zacks Investment Research downgraded MRC Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Finally, Evercore ISI increased their target price on MRC Global to $25.00 in a research note on Wednesday, February 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.57.
MRC Global (NYSE:MRC) traded up 2.92% during midday trading on Friday, hitting $20.11. The stock had a trading volume of 737,387 shares. The stock’s market cap is $1.90 billion. The company has a 50-day moving average of $18.81 and a 200-day moving average of $19.43. MRC Global has a 1-year low of $11.50 and a 1-year high of $22.52.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. The business had revenue of $862 million during the quarter, compared to the consensus estimate of $798.38 million. MRC Global had a negative net margin of 13.92% and a negative return on equity of 0.01%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. Equities research analysts forecast that MRC Global will post $0.22 EPS for the current year.
In other MRC Global news, EVP Daniel J. Churay sold 3,080 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $21.30, for a total value of $65,604.00. Following the completion of the sale, the executive vice president now directly owns 63,349 shares of the company’s stock, valued at $1,349,333.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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