Somewhat Positive Media Coverage Somewhat Unlikely to Impact MRC Global (MRC) Stock Price
News articles about MRC Global (NYSE:MRC) have been trending somewhat positive on Tuesday, Accern reports. The research group rates the sentiment of press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. MRC Global earned a news impact score of 0.20 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 45.4511439015461 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
A number of research analysts recently weighed in on the company. Wells Fargo & Company reaffirmed a “market perform” rating and set a $17.00 price target (down from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. Cowen and Company set a $24.00 price target on MRC Global and gave the stock a “buy” rating in a research note on Friday, October 6th. J P Morgan Chase & Co dropped their price target on MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 12th. Finally, ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. MRC Global currently has a consensus rating of “Hold” and an average target price of $21.22.
Shares of MRC Global (NYSE:MRC) traded down 0.93% during mid-day trading on Tuesday, reaching $18.08. The company’s stock had a trading volume of 200,916 shares. The company’s market cap is $1.71 billion. MRC Global has a 12 month low of $13.68 and a 12 month high of $22.52. The company has a 50-day moving average of $17.14 and a 200-day moving average of $17.41.
MRC Global (NYSE:MRC) last released its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $916.82 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. MRC Global’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts forecast that MRC Global will post $0.12 earnings per share for the current fiscal year.
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About MRC Global
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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