MRC Global Inc. (NYSE:MRC) has earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.11.
Several equities research analysts recently issued reports on the stock. J P Morgan Chase & Co reduced their target price on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday. Robert W. Baird reissued a “hold” rating and issued a $21.00 target price on shares of MRC Global in a report on Sunday, September 10th. Stifel Nicolaus reissued a “buy” rating and issued a $19.00 target price on shares of MRC Global in a report on Sunday, September 3rd. Cowen and Company increased their target price on shares of MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $17.00 target price (down from $20.00) on shares of MRC Global in a report on Wednesday, July 12th.
MRC Global (NYSE MRC) traded down 1.39% during trading on Friday, hitting $16.98. 956,771 shares of the stock were exchanged. The company has a 50-day moving average price of $16.13 and a 200 day moving average price of $17.56. MRC Global has a 1-year low of $13.68 and a 1-year high of $22.52. The firm’s market capitalization is $1.60 billion.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $916.82 million. MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. MRC Global’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) EPS. Equities analysts predict that MRC Global will post $0.17 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Koch Industries Inc. bought a new position in MRC Global in the 2nd quarter worth approximately $238,000. Sterling Capital Management LLC bought a new position in MRC Global in the 2nd quarter worth approximately $1,046,000. Susquehanna International Group LLP bought a new position in MRC Global in the 2nd quarter worth approximately $761,000. BlueCrest Capital Management Ltd bought a new position in MRC Global in the 2nd quarter worth approximately $2,179,000. Finally, State Street Corp boosted its stake in MRC Global by 2.4% in the 2nd quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock worth $32,863,000 after purchasing an additional 45,858 shares during the period. Institutional investors and hedge funds own 97.09% of the company’s stock.
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MRC Global Company Profile
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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