MRC Global Inc. (NYSE:MRC) Receives Average Recommendation of “Buy” from Analysts

Shares of MRC Global Inc. (NYSE:MRCGet Rating) have earned an average rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $10.92.

MRC has been the subject of several research analyst reports. TheStreet upgraded shares of MRC Global from a “d+” rating to a “c-” rating in a research report on Tuesday, March 15th. StockNews.com cut MRC Global from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Finally, Zacks Investment Research upgraded MRC Global from a “hold” rating to a “strong-buy” rating and set a $8.75 price objective on the stock in a report on Tuesday, January 11th.

Several hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in MRC Global by 240.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,907 shares of the oil and gas company’s stock worth $4,368,000 after purchasing an additional 448,527 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of MRC Global by 15.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 126,740 shares of the oil and gas company’s stock valued at $930,000 after buying an additional 17,118 shares during the period. Marshall Wace LLP acquired a new position in MRC Global in the third quarter valued at approximately $3,958,000. Two Sigma Investments LP grew its position in MRC Global by 85.7% in the third quarter. Two Sigma Investments LP now owns 480,707 shares of the oil and gas company’s stock worth $3,528,000 after acquiring an additional 221,857 shares during the period. Finally, Millennium Management LLC increased its stake in MRC Global by 25.1% during the third quarter. Millennium Management LLC now owns 536,609 shares of the oil and gas company’s stock worth $3,939,000 after acquiring an additional 107,714 shares during the last quarter. 86.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MRC traded up $0.12 during trading on Monday, reaching $12.05. 624,119 shares of the company traded hands, compared to its average volume of 722,993. The firm’s fifty day simple moving average is $10.75 and its 200 day simple moving average is $8.76. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.02 and a current ratio of 2.06. MRC Global has a 12-month low of $6.38 and a 12-month high of $12.49.

MRC Global (NYSE:MRCGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. MRC Global had a negative net margin of 0.75% and a positive return on equity of 8.33%. The business had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $686.07 million. During the same quarter last year, the company earned ($0.05) EPS. On average, equities analysts forecast that MRC Global will post 0.83 earnings per share for the current year.

About MRC Global (Get Rating)

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. 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, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

See Also

Receive News & Ratings for MRC Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global and related companies with MarketBeat.com's FREE daily email newsletter.