MRC Global (NYSE:MRC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price objective on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Stock Performance

Shares of NYSE MRC opened at $12.60 on Friday. The company has a 50-day simple moving average of $12.52 and a 200-day simple moving average of $12.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The company has a market cap of $1.07 billion, a PE ratio of 14.65 and a beta of 1.97. MRC Global has a 12 month low of $9.47 and a 12 month high of $14.91.

MRC Global (NYSE:MRC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $832.00 million during the quarter, compared to analysts’ expectations of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. MRC Global’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. On average, equities analysts anticipate that MRC Global will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of MRC Global by 4.0% in the 1st quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock worth $986,000 after purchasing an additional 2,994 shares during the period. Pzena Investment Management LLC raised its holdings in MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock valued at $92,521,000 after buying an additional 358,580 shares during the period. Essex Investment Management Co. LLC lifted its position in MRC Global by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 263,573 shares of the oil and gas company’s stock valued at $3,313,000 after buying an additional 4,047 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in MRC Global during the first quarter worth approximately $201,000. Finally, Russell Investments Group Ltd. increased its position in shares of MRC Global by 13.5% in the first quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 19,369 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.