MRC Global Inc. (NYSE:MRC)‘s stock had its “hold” rating reiterated by analysts at Robert W. Baird in a research report issued to clients and investors on Sunday. They presently have a $21.00 target price on the oil and gas company’s stock. Robert W. Baird’s price target would indicate a potential upside of 26.43% from the stock’s current price.
Several other equities analysts also recently weighed in on MRC. Cowen and Company increased their target price on MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and set a $19.00 target price on shares of MRC Global in a research report on Sunday, September 3rd. ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. KeyCorp reiterated a “sector weight” rating on shares of MRC Global in a research report on Friday, May 26th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $17.00 target price (down from $20.00) on shares of MRC Global in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.11.
Shares of MRC Global (NYSE MRC) traded down 0.48% during mid-day trading on Friday, hitting $16.61. The company had a trading volume of 479,869 shares. MRC Global has a 12 month low of $13.50 and a 12 month high of $22.52. The company’s market cap is $1.57 billion. The firm has a 50-day moving average of $16.01 and a 200-day moving average of $17.69.
MRC Global (NYSE:MRC) last released its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The business had revenue of $922 million for the quarter, compared to analysts’ expectations of $916.82 million. During the same quarter last year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, analysts expect that MRC Global will post $0.17 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in MRC. BlackRock Inc. raised its holdings in shares of MRC Global by 17,937.8% in the 1st quarter. BlackRock Inc. now owns 7,126,027 shares of the oil and gas company’s stock worth $130,618,000 after purchasing an additional 7,086,521 shares during the period. Clearbridge Investments LLC purchased a new position in shares of MRC Global in the 1st quarter worth about $28,656,000. Citadel Advisors LLC raised its holdings in shares of MRC Global by 334.1% in the 2nd quarter. Citadel Advisors LLC now owns 1,913,550 shares of the oil and gas company’s stock worth $31,612,000 after purchasing an additional 1,472,693 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of MRC Global in the 2nd quarter worth about $17,961,000. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of MRC Global in the 2nd quarter worth about $17,064,000. Institutional investors own 97.09% of the company’s stock.
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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