MRC Global (MRC) Cut to “C+” at TheStreet

MRC Global (NYSE:MRC) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of MRC Global from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Northcoast Research started coverage on shares of MRC Global in a research report on Tuesday, July 31st. They set a “buy” rating and a $26.00 target price for the company. ValuEngine lowered shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Stifel Nicolaus increased their target price on shares of MRC Global from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.75.

Shares of NYSE:MRC opened at $16.33 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.12. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 544.33, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61. MRC Global has a twelve month low of $14.01 and a twelve month high of $22.98.

MRC Global (NYSE:MRC) last issued its earnings results on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. MRC Global had a return on equity of 7.00% and a net margin of 1.97%. MRC Global’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. Analysts predict that MRC Global will post 0.7 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC boosted its position in shares of MRC Global by 22.1% in the first quarter. Verition Fund Management LLC now owns 13,935 shares of the oil and gas company’s stock valued at $229,000 after acquiring an additional 2,525 shares during the period. Global X Management Co LLC boosted its position in shares of MRC Global by 19.0% in the second quarter. Global X Management Co LLC now owns 18,475 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 2,951 shares during the period. Principal Financial Group Inc. boosted its position in shares of MRC Global by 10.3% in the first quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock valued at $749,000 after acquiring an additional 4,235 shares during the period. Northern Trust Corp boosted its position in shares of MRC Global by 0.4% in the first quarter. Northern Trust Corp now owns 1,121,413 shares of the oil and gas company’s stock valued at $18,436,000 after acquiring an additional 4,310 shares during the period. Finally, First Midwest Bank Trust Division boosted its position in shares of MRC Global by 13.2% in the second quarter. First Midwest Bank Trust Division now owns 37,225 shares of the oil and gas company’s stock valued at $807,000 after acquiring an additional 4,338 shares during the period. Institutional investors own 96.80% of the company’s stock.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. 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 products, and top work components, as well as measurement, steam, and instrumentation products.

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