MRC Global Given New $32.50 Price Target at Global Hunter Securities (MRC)
Equities researchers at Global Hunter Securities boosted their price objective on shares of MRC Global (NYSE:MRC) from $29.00 to $32.50 in a research report issued on Wednesday, AnalystRatings.Net reports. Global Hunter Securities’ target price would suggest a potential upside of 19.27% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Wunderlich initiated coverage on shares of MRC Global (NYSE:MRC) in a research note to investors on Friday, September 13th. They set a “buy” rating and a $33.00 price target on the stock. Separately, analysts at Zacks downgraded shares of MRC Global (NYSE:MRC) from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, September 5th. They now have a $24.80 price target on the stock. Finally, analysts at Barclays Capital cut their price target on shares of MRC Global (NYSE:MRC) from $33.00 to $30.00 in a research note to investors on Monday, August 5th. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $31.13.
MRC Global (NYSE:MRC) traded down 0.29% on Wednesday, hitting $27.25. The stock had a trading volume of 1,247,387 shares. MRC Global has a 52-week low of $21.60 and a 52-week high of $34.14. The stock has a 50-day moving average of $26.1 and a 200-day moving average of $28.39. The company has a market cap of $2.772 billion and a price-to-earnings ratio of 20.02.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.05. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 11.4% on a year-over-year basis. On average, analysts predict that MRC Global will post $1.74 earnings per share for the current fiscal year.
MRC Global Inc, formerly known as McJunkin Red Man Holding Corporation is a holding company. The Company is the distributor of pipe, valves and fittings (NYSE:MRC) and related products and services to the energy industry.
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