MRC Global Inc. (NYSE:MRC) finished Wednesday with a subtraction of -$0.25 to close at $9.05, a downside of -2.69 percent. An average of 942,640 shares of common stock have been traded in the last five days. There was a fall of -$2.14 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 644,535 shares traded, while the 50-day average volume stands at 621,080.
MRC stock has decreased by -10.40% in the last month. The company shares reached their 1-month lowest point of $8.15 on 08/08/23. With the stock rallying to its 52-week high on 02/07/23, shares of the company touched a low of $7.03 and a high of $13.90 in 52 weeks. It has reached a new high 14 times so far this year and lost -21.85% or -$2.53 in price. In spite of this, the price is down -34.89% from the 52-week high.
Insider Transactions
MRC stock investors should be aware that MRC Global Inc. (MRC) stock had its last reported insider trading activity 161 days ago on Mar 02. In this transaction, the insider spent $59,950. SVP – Human Resources, O’Neal Malcolm, disposed of 3,125 shares at a price of $9.61 on Aug 22. The insider now owns more than $30,031 worth of shares.
Valuation Metrics
MRC Global Inc. (MRC) has a trailing price-to-earnings (P/E) ratio of 11.17. The stock’s beta is 2.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.22, the price-to-book (PB) ratio at 1.85.
Financial Health
The quick ratio of MRC Global Inc. for the three months ended June 29 was 1.00, and the current ratio was 2.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.94 and a total debt to equity ratio of 0.95 for the quarter ending June 29. MRC Global Inc.’s EBITDA margin for the year ending June 29 is 5.35%, while its operating margin for the same period stands at 4.80%. Its gross profit as reported stood at $610.0 million compared to revenue of $3.36 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, MRC Global Inc.’s return on assets was 3.60%.
Earnings Surprise
For the three-month period that ended June 29, MRC Global Inc. had $368.0 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $18.0 million in the quarter, while revenues were grew 55.56%. The analyst consensus anticipated MRC Global Inc.’s latest quarter earnings to come in at $0.39 per share, but it turned out to be $0.25, a -35.90% surprise. For the quarter, EBITDA amounted to $55.0 million. At the end of the quarter ending June 29, MRC Global Inc.’s stock balance sheet showed total liabilities of 1.21 billion. Shareholders own equity worth $84.01 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at MRC Global Inc. (MRC) price momentum. RSI 9-day as of the close on 09 August was 20.21%, suggesting the stock is oversold, with historical volatility in this time frame at 90.82%.
As of today, MRC’s price is $10.35 -19.12% or -$2.14 from its 5-day moving average. MRC is currently trading -12.81% lower than its 20-day SMA and +0.89% higher than its 100-day SMA. However, the stock’s current price level is -1.09% below the SMA50 and +1.57% above the SMA200.
The stochastic %K and %D were 40.58% and 50.83%, respectively, and the average true range (ATR) was 0.58. With the 14-day stochastic at 27.11% and the average true range at 0.50, the RSI (14) stands at 28.95%. The stock has reached -0.93 on the 9-day MACD Oscillator while the 14-day reading was at -1.05.
Analyst Ratings
The Benchmark Company launched coverage on MRC Global Inc. (NYSE: MRC) in its analyst report released on July 08, 2022. The firm assigned the stock a Buy rating. The consensus rating for MRC Global Inc. (MRC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MRC, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is MRC’s price target for the next 12 months?
Analysts predict a range of price targets between $12.00 and $17.00, with a median target of $13.00. Taking a look at these predictions, the average price target given by analysts for MRC Global Inc. (MRC) stock is $14.00.
