MRC Global Sets New 1-Year Low at $24.11 (MRC)
MRC Global (NYSE:MRC) shares hit a new 52-week low during mid-day trading on Tuesday , Stock Ratings Network.com reports. The company traded as low as $24.11 and last traded at $24.74, with a volume of 528,363 shares changing hands. The stock had previously closed at $24.76.
MRC has been the subject of a number of recent research reports. Analysts at BB&T Corp. reiterated a “buy” rating on shares of MRC Global in a research note on Tuesday, August 5th. They now have a $32.00 price target on the stock. Separately, analysts at Bank of America upgraded shares of MRC Global from a “neutral” rating to a “positive” rating in a research note on Monday, August 4th. They now have a $28.00 price target on the stock, down previously from $31.00. Finally, analysts at Bank of America upgraded shares of MRC Global from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 10th. They now have a $30.00 price target on the stock, up previously from $27.00. Nine equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $33.00.
The stock has a 50-day moving average of $26.73 and a 200-day moving average of $27.49. The company has a market cap of $2.537 billion and a P/E ratio of 20.46.
MRC Global (NYSE:MRC) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.42 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.42. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $0.43 earnings per share. MRC Global’s revenue was up 18.2% compared to the same quarter last year. On average, analysts predict that MRC Global will post $1.61 earnings per share for the current fiscal year.
MRC Global Inc is a distributor of pipe, valves and fittings and related products and services to the energy industry.
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