MRC Global (NYSE:MRC) Shares Down 7.6%

MRC Global Inc. (NYSE:MRC – Get Rating)’s share price traded down 7.6% on Thursday . The stock traded as low as $8.73 and last traded at $8.75. 17,954 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 502,392 shares. The stock had previously closed at $9.47.

Several analysts recently weighed in on the stock. TheStreet raised shares of MRC Global from a “d+” rating to a “c-” rating in a research note on Tuesday, March 15th. StockNews.com raised shares of MRC Global from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MRC Global has a consensus rating of “Buy” and an average target price of $12.00.

The company has a current ratio of 1.93, a quick ratio of 0.98 and a debt-to-equity ratio of 0.88. The stock’s 50-day simple moving average is $11.16 and its 200 day simple moving average is $9.80.

MRC Global (NYSE:MRC – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The oil and gas company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $717.48 million. MRC Global had a negative net margin of 0.04% and a positive return on equity of 14.63%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, equities research analysts expect that MRC Global Inc. will post 0.77 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new position in shares of MRC Global during the first quarter valued at about $31,000. Lazard Asset Management LLC acquired a new position in shares of MRC Global during the first quarter valued at about $96,000. Point72 Hong Kong Ltd acquired a new position in shares of MRC Global during the first quarter valued at about $107,000. Scotia Capital Inc. acquired a new position in shares of MRC Global during the first quarter valued at about $127,000. Finally, Walleye Trading LLC acquired a new position in shares of MRC Global during the first quarter valued at about $172,000. 94.09% of the stock is currently owned by institutional investors and hedge funds.

MRC Global Company Profile (NYSE:MRC)

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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