MRC Global (NYSE:MRC) Rating Lowered to “Buy” at StockNews.com

StockNews.com cut shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

MRC has been the topic of several other reports. Susquehanna upped their target price on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their target price on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th.

MRC Global Stock Performance

Shares of MRC stock opened at $13.96 on Friday. The business’s fifty day simple moving average is $12.55 and its 200-day simple moving average is $12.80. The company has a market cap of $1.19 billion, a PE ratio of 16.05 and a beta of 1.97. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. MRC Global has a 12-month low of $9.77 and a 12-month high of $14.91.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $794.17 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts expect that MRC Global will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MRC Global

Several hedge funds have recently modified their holdings of MRC. BNP Paribas Financial Markets boosted its stake in shares of MRC Global by 4.0% during the 1st quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock worth $986,000 after acquiring an additional 2,994 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MRC Global during the 1st quarter worth about $201,000. Russell Investments Group Ltd. boosted its stake in shares of MRC Global by 13.5% during the 1st quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 19,369 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of MRC Global by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock worth $190,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in MRC Global by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock valued at $115,391,000 after buying an additional 175,865 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.