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

Shares of MRC Global Inc. (NYSE:MRC) have earned an average rating of “Buy” from the four ratings firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.25.

A number of research firms have weighed in on MRC. Susquehanna raised their price target on MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research report on Monday, April 8th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of MRC Global in a research report on Wednesday, February 14th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MRC. JPMorgan Chase & Co. increased its holdings in shares of MRC Global by 6.3% in the first quarter. JPMorgan Chase & Co. now owns 1,193,387 shares of the oil and gas company’s stock worth $14,213,000 after buying an additional 70,482 shares during the period. Raymond James & Associates increased its holdings in MRC Global by 63.4% during the 1st quarter. Raymond James & Associates now owns 30,327 shares of the oil and gas company’s stock valued at $361,000 after purchasing an additional 11,764 shares during the period. Bank of New York Mellon Corp increased its holdings in MRC Global by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 337,546 shares of the oil and gas company’s stock valued at $4,020,000 after purchasing an additional 1,473 shares during the period. Group One Trading L.P. increased its holdings in MRC Global by 115.3% during the 1st quarter. Group One Trading L.P. now owns 22,144 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 167,059 shares during the period. Finally, Private Advisor Group LLC purchased a new position in MRC Global during the 1st quarter valued at about $190,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Price Performance

NYSE:MRC opened at $12.08 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.62 and a beta of 1.99. MRC Global has a 52-week low of $8.15 and a 52-week high of $13.00. The stock has a fifty day moving average of $11.99 and a 200 day moving average of $11.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.48.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. The business had revenue of $768.00 million for the quarter, compared to the consensus estimate of $810.52 million. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. On average, research analysts expect that MRC Global will post 0.97 EPS for the current fiscal year.

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.