MRC Global (NYSE:MRC) Downgraded to C at TheStreet

TheStreet cut shares of MRC Global (NYSE:MRC) from a b- rating to a c rating in a research note released on Monday, TheStreetRatingsTable reports.

A number of other equities analysts also recently issued reports on the company. Raymond James set a $16.00 price target on MRC Global and gave the company a buy rating in a report on Friday, September 6th. ValuEngine downgraded MRC Global from a hold rating to a sell rating in a report on Tuesday, August 20th. Cowen downgraded MRC Global from an outperform rating to a market perform rating in a report on Thursday, September 12th. Finally, Scotiabank downgraded MRC Global from a sector outperform rating to a sector perform rating and lowered their price target for the company from $17.00 to $11.00 in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $17.38.

Shares of MRC opened at $13.20 on Monday. The stock has a 50 day moving average price of $13.20 and a 200 day moving average price of $15.85. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.10 and a beta of 2.09. MRC Global has a 52-week low of $11.19 and a 52-week high of $19.88.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The business had revenue of $984.00 million during the quarter, compared to analyst estimates of $1.04 billion. MRC Global had a net margin of 1.88% and a return on equity of 11.23%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. On average, equities analysts anticipate that MRC Global will post 0.63 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of MRC. Investors Research Corp boosted its holdings in shares of MRC Global by 50.0% in the second quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 600 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of MRC Global by 4,119.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock valued at $79,000 after acquiring an additional 4,490 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of MRC Global in the second quarter valued at approximately $102,000. Jane Street Group LLC acquired a new stake in shares of MRC Global in the second quarter valued at approximately $179,000. Finally, CWM Advisors LLC acquired a new stake in shares of MRC Global in the second quarter valued at approximately $181,000. 95.51% of the stock is owned by institutional investors and hedge funds.

MRC Global Company Profile

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.

Featured Story: Trading signals using Bollinger bands

Analyst Recommendations for MRC Global (NYSE:MRC)

Receive News & Ratings for MRC Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global and related companies with MarketBeat.com's FREE daily email newsletter.