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

MRC Global (NYSE:MRC – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Sunday.

Separately, TheStreet raised shares of MRC Global from a “d+” rating to a “c-” rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $10.92.

Shares of NYSE:MRC opened at $11.38 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.93 and a debt-to-equity ratio of 0.88. MRC Global has a fifty-two week low of $6.38 and a fifty-two week high of $13.44. The firm has a 50-day simple moving average of $11.49 and a 200 day simple moving average of $9.45. The company has a market cap of $950.04 million, a PE ratio of -49.48 and a beta of 2.03.

MRC Global (NYSE:MRC – Get Rating) last posted its earnings results on Monday, May 9th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $742.00 million during the quarter, compared to analyst estimates of $717.48 million. MRC Global had a negative net margin of 0.04% and a positive return on equity of 14.63%. MRC Global’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. As a group, research analysts forecast that MRC Global will post 0.77 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in MRC. Assenagon Asset Management S.A. increased its stake in MRC Global by 240.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,907 shares of the oil and gas company’s stock valued at $4,368,000 after buying an additional 448,527 shares during the period. UBS Asset Management Americas Inc. boosted its holdings 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 worth $930,000 after buying an additional 17,118 shares during the period. Marshall Wace LLP bought a new stake in shares of MRC Global during the 3rd quarter worth $3,958,000. B. Riley Asset Management LLC bought a new stake in shares of MRC Global during the 4th quarter worth $894,000. Finally, Two Sigma Investments LP boosted its holdings in shares of MRC Global by 85.7% during the 3rd quarter. Two Sigma Investments LP now owns 480,707 shares of the oil and gas company’s stock worth $3,528,000 after buying an additional 221,857 shares during the period. Institutional investors and hedge funds own 94.09% 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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