MRC Global (NYSE:MRC) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of MRC Global (NYSE:MRC) from a hold rating to a sell rating in a research report sent to investors on Tuesday, ValuEngine reports.

Several other research firms also recently issued reports on MRC. Cowen restated an outperform rating and issued a $17.00 price objective (down previously from $22.00) on shares of MRC Global in a research note on Monday, August 5th. Raymond James decreased their price objective on shares of MRC Global from $21.00 to $20.00 and set an outperform rating for the company in a research note on Monday, August 5th. TheStreet upgraded shares of MRC Global from a c rating to a b- rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on shares of MRC Global in a research note on Thursday, April 25th. They issued a hold rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $19.88.

NYSE:MRC opened at $12.29 on Tuesday. The firm has a market capitalization of $1.03 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.78 and a beta of 1.98. The business’s fifty day moving average price is $14.94 and its 200 day moving average price is $16.41. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.62 and a quick ratio of 1.22. MRC Global has a 12 month low of $11.62 and a 12 month high of $20.83.

MRC Global (NYSE:MRC) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. MRC Global had a net margin of 1.88% and a return on equity of 11.23%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. As a group, equities analysts anticipate that MRC Global will post 0.81 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. South Dakota Investment Council boosted its stake in MRC Global by 24.4% in the first quarter. South Dakota Investment Council now owns 438,278 shares of the oil and gas company’s stock valued at $7,661,000 after acquiring an additional 85,860 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of MRC Global by 312.8% during the first quarter. SG Americas Securities LLC now owns 37,836 shares of the oil and gas company’s stock worth $661,000 after buying an additional 28,671 shares during the period. Triad Investment Management boosted its stake in shares of MRC Global by 12.9% during the second quarter. Triad Investment Management now owns 228,730 shares of the oil and gas company’s stock worth $3,916,000 after buying an additional 26,168 shares during the period. Synovus Financial Corp boosted its stake in shares of MRC Global by 8.1% during the first quarter. Synovus Financial Corp now owns 45,195 shares of the oil and gas company’s stock worth $789,000 after buying an additional 3,404 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of MRC Global by 2.4% during the fourth quarter. Legal & General Group Plc now owns 94,473 shares of the oil and gas company’s stock worth $1,156,000 after buying an additional 2,257 shares during the period. Institutional investors own 96.89% of the company’s stock.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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Analyst Recommendations for MRC Global (NYSE:MRC)

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