Shares of MRC Global Inc (NYSE:MRC) have been given an average rating of “Hold” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.88.
Several equities research analysts have issued reports on MRC shares. ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Cowen reaffirmed an “outperform” rating and set a $17.00 price target (down previously from $22.00) on shares of MRC Global in a research note on Monday, August 5th. Raymond James dropped their price target on MRC Global from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, TheStreet raised MRC Global from a “c” rating to a “b-” rating in a research note on Friday, August 2nd.
A number of hedge funds have recently modified their holdings of MRC. Norges Bank bought a new stake in shares of MRC Global in the 4th quarter valued at about $12,704,000. Luminus Management LLC lifted its stake in shares of MRC Global by 34.0% in the 2nd quarter. Luminus Management LLC now owns 2,496,541 shares of the oil and gas company’s stock valued at $42,741,000 after acquiring an additional 632,920 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of MRC Global in the 2nd quarter valued at about $10,520,000. Balyasny Asset Management LLC lifted its stake in shares of MRC Global by 618.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 422,397 shares of the oil and gas company’s stock valued at $7,231,000 after acquiring an additional 363,582 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of MRC Global in the 1st quarter valued at about $5,817,000. 96.89% of the stock is owned by hedge funds and other institutional investors.
MRC Global (NYSE:MRC) last issued 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 Thomson Reuters’ consensus estimate of $0.22 by ($0.01). MRC Global had a return on equity of 11.23% and a net margin of 1.88%. The firm had revenue of $984.00 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $0.31 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts expect that MRC Global will post 0.81 EPS for the current year.
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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