MRC Global (NYSE:MRC) Lowered to “Market Perform” at Cowen

Cowen downgraded shares of MRC Global (NYSE:MRC) from an outperform rating to a market perform rating in a report issued on Thursday, BenzingaRatingsTable reports.

Several other equities analysts have also weighed in on the company. Scotiabank lowered MRC Global from a sector outperform rating to a sector perform rating and reduced their price objective for the company from $17.00 to $11.00 in a research note on Friday, September 6th. ValuEngine lowered MRC Global from a hold rating to a sell rating in a research report on Tuesday, August 20th. Raymond James set a $16.00 price target on MRC Global and gave the stock a buy rating in a research report on Friday, September 6th. Finally, TheStreet raised MRC Global from a c rating to a b- rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $18.44.

Shares of NYSE MRC traded down $0.02 during midday trading on Thursday, hitting $13.23. The stock had a trading volume of 855,193 shares, compared to its average volume of 918,336. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.02 and a beta of 2.09. MRC Global has a 1-year low of $11.19 and a 1-year high of $19.88. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 1.34. The company has a fifty day moving average price of $13.53 and a 200 day moving average price of $15.99.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $984.00 million during the quarter, compared to analyst estimates of $1.04 billion. MRC Global had a net margin of 1.88% and a return on equity of 11.23%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, research analysts forecast that MRC Global will post 0.66 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Investors Research Corp increased its holdings in 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 worth $31,000 after purchasing an additional 600 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of MRC Global by 1.9% in the 2nd quarter. Synovus Financial Corp now owns 46,034 shares of the oil and gas company’s stock valued at $793,000 after acquiring an additional 839 shares during the last quarter. Aperio Group LLC increased its holdings in shares of MRC Global by 6.9% in 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 last quarter. Wintrust Investments LLC increased its holdings in shares of MRC Global by 6.0% in the 2nd quarter. Wintrust Investments LLC now owns 72,600 shares of the oil and gas company’s stock valued at $1,243,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of MRC Global by 4,119.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock valued at $79,000 after acquiring an additional 4,490 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

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.

Featured Story: Using other technical indicators with support levels

Analyst Recommendations for MRC Global (NYSE:MRC)

Receive News & Ratings for MRC Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global and related companies with MarketBeat.com's FREE daily email newsletter.