Thursday, May 13, 2021

MRC Global Inc. [MRC] earnings preview: what to look & expect from their March quarter

Earnings from MRC Global Inc. [MRC] are scheduled on April 27, 2021, after the market closes. It is expected that the company will report weak earnings for the quarter ending Mar 2021.


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MRC Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn -$0.08 per share on revenue of $565.67M. Taking a look at the future, the company is projected to report revenue of $625.37M at an earnings per share of $0.01 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 12.30% in revenue and 921.28% in earnings per share for the company.

MRC Stock Earnings Forecast For The Current Year


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For the full financial year, MRC Global Inc. [NYSE:MRC] is forecasted to generate revenue of $2.49B. The figure is about $-70.0 million below what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $0.05 in 2021, which is $0.29 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 120.80% this year, 860.00% next year, and 15.00% annually over the next five years. With regard to sales, forecasts suggest a decline of -2.80% in current fiscal year and 12.30% over following year.

MRC Stock Price Performance

At a recent check today, MRC Global Inc. [NYSE:MRC] finished up 0.58% at $8.65. The stock’s day high price was $8.9255, and its lowest was $8.59. Its price fall -5.91% in the last five days. Since the beginning of the year, MRC Global Inc.’s shares are up nearly 29.71%. However, the share price is -13.50% below its one year high. The top price reached by the shares of the company was $10.00 on 03/12/21, while the 52-week low came on 01/04/21, when the shares were $6.32. In the past year, shares of the company have risen 126.32%. At 50 days, the moving average achieved is $9.09 while at 200 days, the moving average is $6.82. There were 48779.0 shares traded in the last session, down from 0.33 million in the previous session.

MRC Global Inc. [NYSE:MRC] Stock Valuation Metrics

Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 0.27 PS value ratio is reported for the last one year of reported earnings. This is below the average return 1.13 for the industry, which means MRC offers an attractive investment opportunity than its competitors do.

MRC Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 8.64 level, and the violation of this level will cause a further drop to 8.48 level. At the upper end, 9.16 remains a key resistance. As the stock increases, it may find resistance at 9.04. In the 14-day chart, the Relative Strength Index standing at 42.55 suggests a technical neutral stance while the MACD standing at -0.33 indicates price will decrease in the next trading period. Stochastic %K at 22.60% suggests holding the stock while Percent R indicator at 74.39% suggests bearish price movement.

How much is the short interest in MRC Global Inc.?

There have been a drop in short interest in the MRC Global Inc. Financial stock, with short interest down by -0.17 million shares to 4.72 million shares on Mar 14, 2021. According to data provided by Yahoo Finance, the short interest on Apr 14, 2021 stood at 4.55 million shares. This 3.6% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 7.08% of the overall float in the stock, while the stock’s days to cover moved to 9.03.

How do analysts view MRC Global Inc.?

In regard to the share price forecast for MRC Global Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $10.50 in the next twelve months, representing almost an 17.62% growth from its recent price of $8.65. Among MRC Global Inc. stock projections, $12.00 is the highest analyst target for the stock, while $7.00 is the lowest. Despite this, 7 analysts who share their consensus rating for MRC in 2021 agree that the stock is an Overweight. The latest rating change took place on 2/19/21, when JP Morgan Ratings downgraded the stock from “Overweight” to “Neutral.”

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