MRC Global (NYSE:MRC) Price Target Cut to $20.00

MRC Global (NYSE:MRC) had its price objective trimmed by Raymond James from $21.00 to $20.00 in a research report released on Monday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of MRC Global from a sell rating to a hold rating in a research report on Friday. Jefferies Financial Group started coverage on shares of MRC Global in a research report on Thursday, April 25th. They issued a hold rating and a $20.00 price objective for the company. Stifel Nicolaus downgraded shares of MRC Global from a buy rating to a hold rating and set a $20.00 price objective for the company. in a research report on Tuesday, April 16th. Finally, Cowen reaffirmed an outperform rating and issued a $17.00 price objective (down from $22.00) on shares of MRC Global in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $19.88.

Shares of MRC stock opened at $14.25 on Monday. MRC Global has a 52-week low of $11.62 and a 52-week high of $21.12. The company has a quick ratio of 1.14, a current ratio of 2.54 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average price of $16.06. The company has a market cap of $1.18 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.98.

MRC Global (NYSE:MRC) last issued its quarterly earnings data 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). MRC Global had a return on equity of 11.06% and a net margin of 1.88%. The firm had revenue of $984.00 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, research analysts predict that MRC Global will post 0.86 earnings per share for the current fiscal year.

In other news, EVP Daniel J. Churay sold 54,479 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $16.83, for a total transaction of $916,881.57. Following the completion of the transaction, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at approximately $1,394,096.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.10% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Investors Research Corp grew its position in shares of MRC Global by 50.0% during the 2nd 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. Aperio Group LLC grew its position in shares of MRC Global by 6.9% during the 2nd quarter. Aperio Group LLC now owns 26,786 shares of the oil and gas company’s stock valued at $459,000 after acquiring an additional 1,722 shares during the period. Legal & General Group Plc grew its position in shares of MRC Global by 2.4% during the 4th quarter. Legal & General Group Plc now owns 94,473 shares of the oil and gas company’s stock valued at $1,156,000 after acquiring an additional 2,257 shares during the period. MHI Funds LLC lifted its stake in shares of MRC Global by 29.7% during the 1st quarter. MHI Funds LLC now owns 11,666 shares of the oil and gas company’s stock valued at $204,000 after buying an additional 2,669 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of MRC Global by 8.1% during the 1st quarter. Synovus Financial Corp now owns 45,195 shares of the oil and gas company’s stock valued at $789,000 after buying an additional 3,404 shares in the last quarter.

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.

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Analyst Recommendations for MRC Global (NYSE:MRC)

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