MRC Global Inc. (MRC) Receives Average Rating of “Buy” from Brokerages
MRC Global Inc. (NYSE:MRC) has been given a consensus rating of “Buy” by the ten brokerages that are currently covering the company. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.33.
A number of analysts have weighed in on MRC shares. Capital One Financial Corp. upgraded shares of MRC Global from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 3rd. Maxim Group upgraded shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of MRC Global from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, November 9th. Cowen and Company started coverage on shares of MRC Global in a research report on Friday, September 16th. They issued a “market perform” rating and a $16.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of MRC Global in a research report on Wednesday, August 3rd.
In related news, Director Gerard Pieter Krans sold 23,000 shares of MRC Global stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $15.33, for a total transaction of $352,590.00. Following the completion of the transaction, the director now owns 18,802 shares of the company’s stock, valued at $288,234.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. increased its position in shares of MRC Global by 19.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 560,928 shares of the company’s stock worth $9,215,000 after buying an additional 90,316 shares in the last quarter. Credit Suisse AG increased its position in shares of MRC Global by 33.5% in the third quarter. Credit Suisse AG now owns 292,599 shares of the company’s stock worth $4,808,000 after buying an additional 73,429 shares in the last quarter. Pioneer Investment Management Inc. increased its position in shares of MRC Global by 38.9% in the third quarter. Pioneer Investment Management Inc. now owns 384,477 shares of the company’s stock worth $6,317,000 after buying an additional 107,637 shares in the last quarter. BTG Pactual Global Asset Management Ltd purchased a new position in shares of MRC Global during the third quarter worth $1,057,000. Finally, Scopus Asset Management L.P. purchased a new position in shares of MRC Global during the third quarter worth $4,929,000.
Shares of MRC Global (NYSE:MRC) opened at 18.93 on Monday. The company has a 50 day moving average of $15.72 and a 200-day moving average of $14.54. The company’s market cap is $1.80 billion. MRC Global has a 52-week low of $8.50 and a 52-week high of $19.31.
MRC Global (NYSE:MRC) last issued its earnings results on Thursday, November 3rd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. MRC Global had a negative net margin of 13.92% and a negative return on equity of 0.01%. The firm had revenue of $793 million for the quarter, compared to analyst estimates of $759.67 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was down 26.0% on a year-over-year basis. Analysts forecast that MRC Global will post ($0.51) EPS for the current fiscal year.
MRC Global Company Profile
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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