MRC Global’s (MRC) Hold Rating Reaffirmed at Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of MRC Global Inc. (NYSE:MRC) in a report published on Monday. Robert W. Baird currently has a $21.00 price target on the oil and gas company’s stock.
Several other analysts have also recently weighed in on MRC. BidaskClub raised MRC Global from a sell rating to a hold rating in a report on Wednesday, June 14th. Seaport Global Securities cut MRC Global from a buy rating to a neutral rating and lowered their price target for the company from $25.00 to $17.00 in a report on Wednesday, June 21st. ValuEngine cut MRC Global from a hold rating to a sell rating in a report on Saturday, June 24th. Stifel Nicolaus reaffirmed a buy rating on shares of MRC Global in a report on Friday, July 7th. Finally, Wells Fargo & Company reaffirmed a market perform rating and issued a $17.00 price target (down previously from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $21.11.
MRC Global (MRC) opened at 18.07 on Monday. The company’s market cap is $1.71 billion. MRC Global has a 12 month low of $13.68 and a 12 month high of $22.52. The company has a 50 day moving average price of $16.82 and a 200-day moving average price of $17.41.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $922.00 million for 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 business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS. Equities analysts predict that MRC Global will post $0.14 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Koch Industries Inc. bought a new position in shares of MRC Global during the 2nd quarter valued at about $238,000. Sterling Capital Management LLC bought a new position in shares of MRC Global during the 2nd quarter valued at about $1,046,000. Susquehanna International Group LLP bought a new position in shares of MRC Global during the 2nd quarter valued at about $761,000. BlueCrest Capital Management Ltd bought a new position in shares of MRC Global during the 2nd quarter valued at about $2,179,000. Finally, State Street Corp increased its position in shares of MRC Global by 2.4% during the 2nd quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock valued at $32,863,000 after purchasing an additional 45,858 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.
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.
Receive News & Ratings for MRC Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.