MRC Global’s (MRC) “Hold” Rating Reiterated at Robert W. Baird
MRC Global Inc. (NYSE:MRC)‘s stock had its “hold” rating restated by analysts at Robert W. Baird in a note issued to investors on Sunday. They presently have a $21.00 price target on the oil and gas company’s stock. Robert W. Baird’s price target would indicate a potential upside of 26.43% from the company’s previous close.
A number of other research firms also recently commented on MRC. BidaskClub upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Cowen and Company increased their price objective on MRC Global from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Seaport Global Securities downgraded MRC Global from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $17.00 in a report on Wednesday, June 21st. ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 price objective on shares of MRC Global in a report on Sunday, September 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. MRC Global presently has an average rating of “Hold” and a consensus target price of $21.11.
Shares of MRC Global (NYSE:MRC) traded down 0.48% during midday trading on Friday, reaching $16.61. The company’s stock had a trading volume of 479,869 shares. The stock’s 50-day moving average price is $16.01 and its 200-day moving average price is $17.69. MRC Global has a 12-month low of $13.50 and a 12-month high of $22.52. The company’s market cap is $1.57 billion.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The company had revenue of $922 million for the quarter, compared to analysts’ expectations of $916.82 million. During the same quarter last year, the company earned ($0.15) EPS. MRC Global’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, analysts expect that MRC Global will post $0.17 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of MRC Global by 12.5% in the 1st 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. BlackRock Inc. boosted its position in shares of MRC Global by 8.9% in the 2nd quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock valued at $128,164,000 after purchasing an additional 632,231 shares during the period. FMR LLC boosted its position in shares of MRC Global by 1.8% in the 2nd quarter. FMR LLC now owns 6,270,253 shares of the oil and gas company’s stock valued at $103,585,000 after purchasing an additional 108,278 shares during the period. JPMorgan Chase & Co. boosted its position in shares of MRC Global by 3.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,892,475 shares of the oil and gas company’s stock valued at $47,784,000 after purchasing an additional 95,838 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in shares of MRC Global by 1.7% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,532,434 shares of the oil and gas company’s stock valued at $46,420,000 after purchasing an additional 42,149 shares during the period. 97.09% of the stock is owned by hedge funds and other institutional investors.
MRC Global Company Profile
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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