MRC Global Inc. (MRC) Given a $24.00 Price Target by Cowen and Company Analysts
MRC Global Inc. (NYSE:MRC) has been given a $24.00 price objective by Cowen and Company in a research note issued on Friday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price objective points to a potential upside of 34.38% from the stock’s previous close.
A number of other analysts have also commented on MRC. BidaskClub upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Seaport Global Securities lowered shares of MRC Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $17.00 in a research note on Wednesday, June 21st. ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Stifel Nicolaus restated a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $17.00 price target (down previously from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. MRC Global currently has a consensus rating of “Hold” and an average price target of $21.11.
Shares of MRC Global (NYSE MRC) traded down 0.83% on Friday, reaching $17.86. 268,016 shares of the company traded hands. The firm has a 50-day moving average price of $16.69 and a 200 day moving average price of $17.41. MRC Global has a one year low of $13.68 and a one year high of $22.52. The company’s market capitalization is $1.69 billion.
MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $922.00 million for the quarter, compared to the consensus estimate of $916.82 million. MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.15) EPS. Equities analysts forecast that MRC Global will post $0.14 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of the stock. Koch Industries Inc. purchased a new position in shares of MRC Global in the 2nd quarter worth about $238,000. Sterling Capital Management LLC purchased a new position in shares of MRC Global in the 2nd quarter worth about $1,046,000. Susquehanna International Group LLP purchased a new position in shares of MRC Global in the 2nd quarter worth about $761,000. BlueCrest Capital Management Ltd purchased a new position in shares of MRC Global in the 2nd quarter worth about $2,179,000. Finally, State Street Corp boosted its holdings in shares of MRC Global by 2.4% in the 2nd quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock worth $32,863,000 after buying an additional 45,858 shares during the last quarter. 97.21% of the stock is currently owned by 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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