MRC Global Inc. (MRC) Given Consensus Recommendation of “Hold” by Brokerages
MRC Global Inc. (NYSE:MRC) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.11.
A number of brokerages have weighed in on MRC. BidaskClub raised MRC Global from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 target price on shares of MRC Global in a research report on Monday. Cowen and Company set a $24.00 target price on MRC Global and gave the company a “buy” rating in a research report on Friday, October 6th. J P Morgan Chase & Co decreased their target price on MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Finally, Seaport Global Securities downgraded MRC Global from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $17.00 in a research report on Wednesday, June 21st.
Several hedge funds have recently modified their holdings of MRC. Bank of New York Mellon Corp boosted its stake in shares of MRC Global by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 470,065 shares of the oil and gas company’s stock valued at $8,617,000 after buying an additional 13,649 shares during the period. Comerica Bank bought a new stake in shares of MRC Global in the first quarter valued at approximately $401,000. Karp Capital Management Corp bought a new stake in shares of MRC Global in the first quarter valued at approximately $429,000. Parametric Portfolio Associates LLC boosted its stake in shares of MRC Global by 9.5% in the first quarter. Parametric Portfolio Associates LLC now owns 371,648 shares of the oil and gas company’s stock valued at $6,812,000 after buying an additional 32,345 shares during the period. Finally, Oxford Asset Management bought a new stake in shares of MRC Global in the first quarter valued at approximately $553,000. Institutional investors and hedge funds own 97.21% of the company’s stock.
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Shares of MRC Global (NYSE:MRC) traded up 0.62% during mid-day trading on Wednesday, hitting $17.99. The company’s stock had a trading volume of 457,476 shares. MRC Global has a 1-year low of $13.68 and a 1-year high of $22.52. The company’s market cap is $1.70 billion. The company has a 50-day moving average of $16.89 and a 200 day moving average of $17.41.
MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $922.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) EPS. On average, analysts expect that MRC Global will post $0.14 EPS for the current year.
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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