MRC Global Inc. (MRC) Stock Rating Reaffirmed by Robert W. Baird
MRC Global Inc. (NYSE:MRC)‘s stock had its “hold” rating reiterated by analysts at Robert W. Baird in a report released on Sunday. They currently have a $21.00 price target on the oil and gas company’s stock. Robert W. Baird’s price target indicates a potential upside of 23.09% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Wells Fargo & Company reiterated a “market perform” rating and issued a $17.00 target price (down previously from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Cowen and Company upped their target price on shares of MRC Global from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. KeyCorp reiterated a “sector weight” rating on shares of MRC Global in a research note on Friday, May 26th. Stifel Nicolaus reiterated a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. Finally, ValuEngine downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.11.
MRC Global (NYSE MRC) opened at 17.06 on Friday. The company has a 50-day moving average of $16.00 and a 200 day moving average of $17.62. The company’s market cap is $1.61 billion. MRC Global has a 12 month low of $13.68 and a 12 month high of $22.52.
MRC Global (NYSE:MRC) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. The business had revenue of $922 million during the quarter, compared to analysts’ expectations of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. MRC Global’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) EPS. On average, equities analysts forecast that MRC Global will post $0.17 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in MRC Global by 14.3% during the first quarter. JPMorgan Chase & Co. now owns 2,796,637 shares of the oil and gas company’s stock valued at $51,263,000 after purchasing an additional 350,316 shares during the period. Bank of America Corp DE lifted its position in MRC Global by 36.3% during the first quarter. Bank of America Corp DE now owns 627,269 shares of the oil and gas company’s stock valued at $11,499,000 after purchasing an additional 167,116 shares during the period. Clearbridge Investments LLC bought a new position in MRC Global during the first quarter valued at approximately $28,656,000. Prudential Financial Inc. lifted its position in MRC Global by 802.8% during the first quarter. Prudential Financial Inc. now owns 345,700 shares of the oil and gas company’s stock valued at $6,336,000 after purchasing an additional 307,410 shares during the period. Finally, Vanguard Group Inc. lifted its position in MRC Global by 12.5% during the first quarter. Vanguard Group Inc. now owns 8,073,947 shares of the oil and gas company’s stock valued at $147,994,000 after purchasing an additional 894,581 shares during the period. Institutional investors own 97.09% of the company’s stock.
About MRC Global
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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