Analysts Set MRC Global Inc (MRC) PT at $23.25
Shares of MRC Global Inc (NYSE:MRC) have earned an average rating of “Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $23.25.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of MRC Global from a “strong-buy” rating to a “hold” rating in a report on Friday, August 3rd. ValuEngine upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Stifel Nicolaus upped their price objective on shares of MRC Global from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Northcoast Research assumed coverage on shares of MRC Global in a report on Tuesday, July 31st. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Robert W. Baird decreased their price objective on shares of MRC Global from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd.
Institutional investors have recently made changes to their positions in the company. Global X Management Co LLC lifted its holdings in shares of MRC Global by 19.0% in the second quarter. Global X Management Co LLC now owns 18,475 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 2,951 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MRC Global by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock worth $749,000 after buying an additional 4,235 shares in the last quarter. First Midwest Bank Trust Division boosted its holdings in shares of MRC Global by 13.2% during the 2nd quarter. First Midwest Bank Trust Division now owns 37,225 shares of the oil and gas company’s stock worth $807,000 after buying an additional 4,338 shares in the last quarter. Broadview Advisors LLC boosted its holdings in shares of MRC Global by 1.4% during the 3rd quarter. Broadview Advisors LLC now owns 333,375 shares of the oil and gas company’s stock worth $6,257,000 after buying an additional 4,450 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of MRC Global by 26.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 21,211 shares of the oil and gas company’s stock worth $460,000 after buying an additional 4,500 shares in the last quarter.
MRC Global (NYSE:MRC) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). MRC Global had a net margin of 2.43% and a return on equity of 9.12%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned ($0.03) earnings per share. MRC Global’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that MRC Global will post 0.6 EPS for the current fiscal year.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.
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