MRC Global Inc (NYSE: MRC) has reported earnings for its first fiscal quarter (ending March 31) of $0.15 versus $0.33 for the same period a year ago — a decline of -55%. This performance was $-0.14 short of the consensus estimate of $0.29. For the latest four quarters through March 31, E.P.S. were $0.88 versus $0.83 for the same period a year ago — an increase of 6%.
Recent Price Action
On 5/8/24, MRC Global Inc (NYSE: MRC) stock rose modestly by 0.5%, closing at $11.72. Moreover, exceptionally high trading volume at 201% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months and has risen 4.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, MRC is expected to continue to be a major Value Builder.
MRC Global has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. MRC Global has a slightly negative Appreciation Score of 30 but a good Power Rating of 73, producing the Neutral Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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