Alembic Global Advisors reiterated their buy rating on shares of MRC Global (NYSE:MRC) in a research note released on Tuesday.
A number of other brokerages have also recently issued reports on MRC. Stifel Nicolaus reissued a buy rating and set a $22.00 price target (up from $18.00) on shares of MRC Global in a research report on Tuesday, January 16th. Susquehanna Bancshares set a $21.00 price target on shares of MRC Global and gave the company a buy rating in a research report on Friday, January 12th. ValuEngine cut shares of MRC Global from a hold rating to a sell rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of MRC Global from a sell rating to a hold rating in a research report on Wednesday, January 31st. Finally, Stephens set a $24.00 price target on shares of MRC Global and gave the company a buy rating in a research report on Saturday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $21.00.
MRC Global (NYSE MRC) opened at $16.51 on Tuesday. MRC Global has a 12-month low of $14.01 and a 12-month high of $22.20. The stock has a market cap of $1,528.25, a PE ratio of 61.15, a P/E/G ratio of 1.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.31.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). MRC Global had a net margin of 1.37% and a return on equity of 3.53%. The business had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $907.63 million. During the same period last year, the business earned ($0.18) earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. equities analysts anticipate that MRC Global will post 0.63 earnings per share for the current year.
MRC Global announced that its Board of Directors has approved a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO Andrew R. Lane sold 180,621 shares of MRC Global stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $19.00, for a total value of $3,431,799.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Lane sold 293,154 shares of MRC Global stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total transaction of $5,569,926.00. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of MRC Global in the third quarter worth approximately $448,000. Wells Fargo & Company MN grew its stake in shares of MRC Global by 1.4% in the third quarter. Wells Fargo & Company MN now owns 2,115,906 shares of the oil and gas company’s stock worth $37,008,000 after acquiring an additional 29,014 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of MRC Global by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 918,183 shares of the oil and gas company’s stock worth $16,060,000 after acquiring an additional 46,395 shares during the period. Ardevora Asset Management LLP grew its stake in shares of MRC Global by 5.7% in the third quarter. Ardevora Asset Management LLP now owns 2,130,800 shares of the oil and gas company’s stock worth $37,268,000 after acquiring an additional 115,700 shares during the period. Finally, State Street Corp grew its position in MRC Global by 2.4% during the second quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock valued at $32,863,000 after buying an additional 45,858 shares during the period. Hedge funds and other institutional investors own 93.70% 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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