MRC Global (NYSE: MRC) recently received a number of ratings updates from brokerages and research firms:

  • 11/9/2017 – MRC Global was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 11/8/2017 – MRC Global was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Over the last month, MRC Global’s shares underperformed the industry. The company’s third-quarter 2017 quarterly adjusted earnings of 2 cents per share missed the Zacks Consensus Estimate of 7 cents. Notably, quarterly revenues also missed the Consensus Estimate by 0.5%. The company believes reduced customer spending will continue to hurt its International business in the quarters ahead. Moreover, further elevation in oil prices might dent its downstream business performances. However, the company perceives that improving upstream and midstream businesses would strengthen its revenues in the quarters ahead. Moreover, meaningful organic deals are anticipated to generate near-term benefits. Also, continued inflation in line pipe prices would likely widen near-term margins.”
  • 11/6/2017 – MRC Global had its price target lowered by analysts at Cowen and Company from $24.00 to $19.00. They now have an “outperform” rating on the stock.
  • 10/26/2017 – MRC Global was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Over the last three months, MRC Global’s shares have outperformed the industry. The company perceives that stronger upstream and midstream businesses would boost its top-line performance in the upcoming quarters. Moreover, ongoing business contracts are also likely drive top and bottom-line growth in the quarters ahead. However, MRC Global’s shares have underperformed the industry in the last three months. Further, slump in oil prices would continue to depress the company’s downstream businesses in the upcoming quarters. Other headwinds such as foreign currency translation impact or stiff industry rivalry remain major causes of concern as well. Also, over the last 60 days, Zacks Consensus Estimate for the stock has moved south for both 2017 and 2018.”
  • 10/17/2017 – MRC Global had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $20.00 price target on the stock.
  • 10/17/2017 – MRC Global was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “MRC Global’s second-quarter 2017 earnings missed the Zacks Consensus Estimate by a penny. Notably, quarterly gross margin had contracted 60 basis points year over year. Over the last month, the stock has outperformed the industry but we fear that lingering headwinds might dent near-term results. For instance, further slump in oil prices would continue to depress the company’s downstream businesses in the upcoming quarters. Moreover, other headwinds such as foreign currency translation impact or stiff industry rivalry remain major causes of concern as well. Over the last 60 days, Zacks Consensus Estimate for the stock has moved south for 2017.”
  • 10/9/2017 – MRC Global had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $21.00 price target on the stock.
  • 10/6/2017 – MRC Global was given a new $24.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.

Shares of MRC Global Inc. (NYSE MRC) opened at $14.61 on Wednesday. MRC Global Inc. has a 52-week low of $14.61 and a 52-week high of $22.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.31 and a quick ratio of 1.16.

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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