Susquehanna Lowers MRC Global (NYSE:MRC) Price Target to $13.00

MRC Global (NYSE:MRC) had its price target reduced by research analysts at Susquehanna from $15.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price points to a potential upside of 27.14% from the stock’s current price.

MRC has been the topic of several other reports. StockNews.com lowered shares of MRC Global from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Loop Capital cut their target price on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 17th.

MRC Global Stock Performance

NYSE:MRC opened at $10.23 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global has a fifty-two week low of $9.23 and a fifty-two week high of $15.41. The company has a market cap of $880.20 million, a price-to-earnings ratio of 11.75 and a beta of 1.67. The stock has a fifty day moving average price of $11.66 and a 200-day moving average price of $12.77.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. MRC Global’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that MRC Global will post 0.86 EPS for the current fiscal year.

MRC Global announced that its board has approved a stock repurchase program on Friday, January 3rd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On MRC Global

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of MRC Global by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock worth $120,004,000 after purchasing an additional 42,331 shares during the period. Pzena Investment Management LLC raised its stake in MRC Global by 1.0% during the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock worth $74,452,000 after buying an additional 54,859 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in MRC Global by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock worth $48,914,000 after acquiring an additional 164,973 shares during the period. American Century Companies Inc. lifted its stake in shares of MRC Global by 18.5% in the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock valued at $29,159,000 after purchasing an additional 356,372 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MRC Global by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,261,364 shares of the oil and gas company’s stock worth $28,900,000 after purchasing an additional 121,601 shares during the period. 94.97% of the stock is owned by institutional investors.

About MRC Global

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.