MRC Global Inc. (MRC) Earns Hold Rating from Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of MRC Global Inc. (NYSE:MRC) in a research note issued to investors on Sunday. The firm currently has a $21.00 price target on the oil and gas company’s stock.
Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $19.00 target price on shares of MRC Global in a report on Sunday, September 3rd. Cowen and Company lifted their target price on shares of MRC Global from $20.00 to $24.00 and gave the stock an outperform rating in a report on Monday, August 7th. Wells Fargo & Company reaffirmed a market perform rating and issued a $17.00 target price (down from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. ValuEngine cut shares of MRC Global from a hold rating to a sell rating in a report on Saturday, June 24th. Finally, Seaport Global Securities cut shares of MRC Global from a buy rating to a neutral rating and decreased their target price for the stock from $25.00 to $17.00 in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. MRC Global currently has a consensus rating of Hold and a consensus target price of $21.30.
Shares of MRC Global (NYSE:MRC) opened at 17.14 on Friday. The company has a 50 day moving average of $16.03 and a 200-day moving average of $17.62. MRC Global has a 12-month low of $13.68 and a 12-month high of $22.52. The firm’s market cap is $1.62 billion.
MRC Global (NYSE:MRC) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share. Analysts predict that MRC Global will post $0.17 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in shares of MRC Global during the first quarter valued at approximately $148,000. Envestnet Asset Management Inc. raised its holdings in shares of MRC Global by 3.9% during the first quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 321 shares during the last quarter. Redwood Investments LLC raised its holdings in shares of MRC Global by 20.2% during the first quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock valued at $169,000 after purchasing an additional 1,554 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of MRC Global during the first quarter valued at approximately $202,000. Finally, Laurion Capital Management LP purchased a new position in shares of MRC Global during the first quarter valued at approximately $227,000. 97.09% of the stock is owned by hedge funds and other institutional investors.
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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