MRC Global Short Interest Up 62.7% in May (MRC)
MRC Global (NYSE:MRC) was the recipient of a significant increase in short interest in May. As of May 30th, there was short interest totalling 2,158,126 shares, an increase of 62.7% from the May 15th total of 1,326,460 shares, American Banking & Market News reports. Based on an average daily trading volume, of 804,943 shares, the short-interest ratio is presently 2.7 days. Approximately 2.2% of the shares of the stock are short sold.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of MRC Global in a research note on Wednesday, June 18th. They now have a $30.00 price target on the stock. Separately, analysts at BB&T Corp. raised their price target on shares of MRC Global to $34.00 in a research note on Thursday, June 5th. They now have a “buy” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of MRC Global from $30.00 to $34.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. MRC Global currently has a consensus rating of “Buy” and an average target price of $33.39.
Shares of MRC Global (NYSE:MRC) opened at 28.40 on Wednesday. MRC Global has a one year low of $23.15 and a one year high of $32.70. The stock has a 50-day moving average of $28.73 and a 200-day moving average of $28.63. The company has a market cap of $2.895 billion and a price-to-earnings ratio of 22.88.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.01. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts predict that MRC Global will post $1.73 earnings per share for the current fiscal year.
MRC Global Inc, formerly known as McJunkin Red Man Holding Corporation is a holding company. The Company is the distributor of pipe, valves and fittings (NYSE:MRC) and related products and services to the energy industry.
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