MRC Global (NYSE:MRC) Lowered to Hold at StockNews.com

MRC Global (NYSE:MRCGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other analysts have also commented on MRC. Zacks Investment Research raised shares of MRC Global from a “hold” rating to a “strong-buy” rating and set a $8.75 price objective on the stock in a research report on Tuesday, January 11th. TheStreet raised shares of MRC Global from a “d+” rating to a “c-” rating in a research report on Tuesday, March 15th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MRC Global has a consensus rating of “Buy” and an average target price of $10.92.

MRC opened at $13.09 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.06 and a quick ratio of 1.02. The firm’s 50-day moving average price is $10.95. MRC Global has a fifty-two week low of $6.38 and a fifty-two week high of $13.11. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -28.46 and a beta of 2.20.

MRC Global (NYSE:MRCGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The company had revenue of $686.00 million for the quarter, compared to analyst estimates of $686.07 million. MRC Global had a negative net margin of 0.75% and a positive return on equity of 8.33%. During the same period last year, the firm earned ($0.05) earnings per share. As a group, analysts predict that MRC Global will post 0.83 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of MRC. Royal Bank of Canada increased its stake in shares of MRC Global by 66.8% in the third quarter. Royal Bank of Canada now owns 10,323 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 4,133 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of MRC Global by 16.5% in the third quarter. Teacher Retirement System of Texas now owns 12,578 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 1,780 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of MRC Global in the third quarter worth about $118,000. ProShare Advisors LLC increased its stake in shares of MRC Global by 70.5% in the fourth quarter. ProShare Advisors LLC now owns 17,590 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 7,272 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in MRC Global during the fourth quarter valued at approximately $122,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.

MRC Global Company Profile (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.

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