MRC Global Rating Reiterated by BB&T Corp. (MRC)
MRC Global (NYSE:MRC)‘s stock had its “buy” rating reaffirmed by equities research analysts at BB&T Corp. in a research note issued to investors on Tuesday. They currently have a $32.00 price target on the stock. BB&T Corp.’s price target would suggest a potential upside of 26.78% from the company’s current price.
A number of other analysts have also recently weighed in on MRC. Analysts at Bank of America upgraded shares of MRC Global from a “neutral” rating to a “positive” rating in a research note on Monday. They now have a $28.00 price target on the stock, down previously from $31.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of MRC Global in a research note on Wednesday, June 18th. They now have a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.67.
MRC Global (NYSE:MRC) traded down 1.07% during mid-day trading on Tuesday, hitting $24.97. 33,752 shares of the company’s stock traded hands. MRC Global has a 1-year low of $23.95 and a 1-year high of $32.70. The stock has a 50-day moving average of $27.73 and a 200-day moving average of $27.80. The company has a market cap of $2.548 billion and a price-to-earnings ratio of 20.86.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts predict that MRC Global will post $1.68 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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