MRC Global (NYSE:MRC) had its price objective cut by stock analysts at Raymond James from $25.00 to $21.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ price target would suggest a potential upside of 26.20% from the company’s current price.
Several other research firms have also weighed in on MRC. ValuEngine upgraded MRC Global from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Northcoast Research assumed coverage on MRC Global in a research note on Tuesday, July 31st. They issued a “buy” rating and a $26.00 price objective on the stock. Stifel Nicolaus upped their price objective on MRC Global from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. TheStreet upgraded MRC Global from a “c+” rating to a “b-” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research lowered MRC Global from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. MRC Global has an average rating of “Buy” and an average target price of $23.75.
MRC stock opened at $16.64 on Friday. MRC Global has a 1-year low of $14.01 and a 1-year high of $22.98. The company has a market capitalization of $1.50 billion, a PE ratio of 53.68, a P/E/G ratio of 1.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.12 and a current ratio of 2.43.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). MRC Global had a net margin of 1.97% and a return on equity of 7.00%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts forecast that MRC Global will post 0.7 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of MRC Global in the 2nd quarter worth approximately $217,000. Fox Run Management L.L.C. acquired a new position in shares of MRC Global in the 3rd quarter worth approximately $198,000. Winslow Asset Management Inc. acquired a new position in shares of MRC Global in the 2nd quarter worth approximately $238,000. Verition Fund Management LLC boosted its holdings in shares of MRC Global by 22.1% in the 1st quarter. Verition Fund Management LLC now owns 13,935 shares of the oil and gas company’s stock worth $229,000 after acquiring an additional 2,525 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of MRC Global by 54.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 16,711 shares of the oil and gas company’s stock worth $275,000 after acquiring an additional 5,900 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related 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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