Boom Or Bust? Where Will MRC Global Inc. (NYSE: MRC) Stock Go Next?

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During the last session, MRC Global Inc. (NYSE:MRC)’s traded shares were 0.83 million, with the beta value of the company hitting 2.46. At the end of the trading day, the stock’s price was $8.09, reflecting an intraday loss of -0.86% or -$0.07. The 52-week high for the MRC share is $12.21, that puts it down -50.93 from that peak though still a striking 28.8% gain since the share price plummeted to a 52-week low of $5.76. The company’s market capitalization is $683.69M, and the average intraday trading volume over the past 10 days was 0.61 million shares, and the average trade volume was 837.13K shares over the past three months.

MRC Global Inc. (MRC) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. MRC has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.07.

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MRC Global Inc. (MRC) registered a -0.86% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.86% in intraday trading to $8.09 this Wednesday, 11/24/21, hitting a weekly high. The stock’s 5-day price performance is -2.41%, and it has moved by -8.28% in 30 days. Based on these gigs, the overall price performance for the year is 17.42%. The short interest in MRC Global Inc. (NYSE:MRC) is 3.81 million shares and it means that shorts have 6.37 day(s) to cover.

The consensus price target of analysts on Wall Street is $12.80, which implies an increase of 36.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.00 and $17.00 respectively. As a result, MRC is trading at a discount of -110.14% off the target high and -35.97% off the low.

MRC Global Inc. (MRC) estimates and forecasts

Statistics show that MRC Global Inc. has outperformed its competitors in share price, compared to the industry in which it operates. MRC Global Inc. (MRC) shares have gone down -25.09% during the last six months, with a year-to-date growth rate more than the industry average at 170.83% against 24.00. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 170.00% this quarter and then jump 160.00% in the quarter after that. In the rating firms’ projections, revenue will increase 4.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $707.71 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $682.36 million by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $567.39 million and $579 million respectively. In this case, analysts expect current quarter sales to grow by 24.70% and then jump by 17.90% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -1.50%. While earnings are projected to return 129.20% in 2021, the next five years will return 15.00% per annum.

MRC Dividends

MRC Global Inc. is due to release its next quarterly earnings between February 09 and February 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

MRC Global Inc. (NYSE:MRC)’s Major holders

MRC Global Inc. insiders own 3.80% of total outstanding shares while institutional holders control 98.29%, with the float percentage being 102.16%. AllianceBernstein, L.P. is the largest shareholder of the company, while 236 institutions own stock in it. As of Jun 29, 2021, the company held over 10.12 million shares (or 12.25% of all shares), a total value of $95.16 million in shares.

The next largest institutional holding, with 9.44 million shares, is of FMR, LLC’s that is approximately 11.41% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $88.7 million.

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Also, the Mutual Funds coming in first place with the largest holdings of MRC Global Inc. (MRC) shares are Undiscovered Managers Behavioral Value Fund and Fidelity Advisor Stock Selector Mid Cap Fund. Data provided on Jun 29, 2021 indicates that Undiscovered Managers Behavioral Value Fund owns about 3.65 million shares. This amounts to just over 4.42 percent of the company’s overall shares, with a $34.35 million market value. The same data shows that the other fund manager holds slightly less at 2.91 million, or about 3.51% of the stock, which is worth about $23.82 million.

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