MRC Global Inc. (MRC) Receives $16.00 Consensus PT from Analysts
Shares of MRC Global Inc. (NYSE:MRC) have been given an average recommendation of “Hold” by the eleven research firms that are currently covering the firm. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.00.
MRC has been the subject of a number of analyst reports. Maxim Group raised shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of MRC Global in a research note on Wednesday, August 3rd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of MRC Global in a research note on Sunday, September 4th. Cowen and Company initiated coverage on shares of MRC Global in a research note on Friday, September 16th. They set a “market perform” rating and a $16.00 target price for the company. Finally, Capital One Financial Corp. raised shares of MRC Global from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 3rd.
In related news, EVP Daniel J. Churay sold 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the sale, the executive vice president now owns 46,292 shares in the company, valued at $683,732.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard Pieter Krans sold 8,600 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $15.01, for a total transaction of $129,086.00. Following the completion of the sale, the director now owns 18,802 shares in the company, valued at approximately $282,218.02. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
A number of large investors have recently modified their holdings of MRC. JPMorgan Chase & Co. boosted its stake in shares of MRC Global by 779.2% in the second quarter. JPMorgan Chase & Co. now owns 2,003,111 shares of the company’s stock valued at $28,465,000 after buying an additional 1,775,271 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of MRC Global by 418.9% in the first quarter. Renaissance Technologies LLC now owns 1,654,400 shares of the company’s stock valued at $21,739,000 after buying an additional 1,335,600 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of MRC Global by 131.9% in the second quarter. Citadel Advisors LLC now owns 1,102,365 shares of the company’s stock valued at $15,665,000 after buying an additional 626,976 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of MRC Global by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,620,753 shares of the company’s stock valued at $51,451,000 after buying an additional 602,580 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of MRC Global during the first quarter valued at about $6,604,000. Institutional investors own 99.30% of the company’s stock.
MRC Global (NYSE:MRC) opened at 16.04 on Monday. The firm’s market cap is $1.55 billion. The firm’s 50-day moving average price is $15.13 and its 200-day moving average price is $14.22. MRC Global has a 1-year low of $8.50 and a 1-year high of $17.11.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.07. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The company earned $746 million during the quarter, compared to the consensus estimate of $747.81 million. During the same period in the previous year, the company earned $0.22 earnings per share. MRC Global’s quarterly revenue was down 37.7% on a year-over-year basis. Equities research analysts anticipate that MRC Global will post ($0.59) earnings per share for the current fiscal year.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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