Cowen downgraded shares of MRC Global (NYSE:MRC) from an outperform rating to a market perform rating in a report published on Thursday morning, BenzingaRatingsTable reports.
MRC has been the subject of a number of other research reports. TheStreet upgraded shares of MRC Global from a c rating to a b- rating in a report on Friday, August 2nd. Raymond James set a $16.00 price target on shares of MRC Global and gave the stock a buy rating in a report on Friday, September 6th. Scotiabank downgraded shares of MRC Global from a sector outperform rating to a sector perform rating and cut their price target for the stock from $17.00 to $11.00 in a report on Friday, September 6th. Finally, ValuEngine downgraded shares of MRC Global from a hold rating to a sell rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $18.44.
Shares of NYSE MRC opened at $13.23 on Thursday. The company has a 50 day simple moving average of $13.47 and a 200-day simple moving average of $15.97. The company has a market capitalization of $1.10 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.06 and a beta of 2.09. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.62 and a quick ratio of 1.22. MRC Global has a 1 year low of $11.19 and a 1 year high of $19.88.
MRC Global (NYSE:MRC) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $984.00 million for the quarter, compared to analyst estimates of $1.04 billion. MRC Global had a return on equity of 11.23% and a net margin of 1.88%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. As a group, research analysts expect that MRC Global will post 0.63 EPS for the current year.
Large investors have recently bought and sold shares of the company. Investors Research Corp increased its position in MRC Global by 50.0% during the second quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 600 shares during the last quarter. Synovus Financial Corp increased its position in shares of MRC Global by 1.9% in the second quarter. Synovus Financial Corp now owns 46,034 shares of the oil and gas company’s stock worth $793,000 after acquiring an additional 839 shares in the last quarter. Aperio Group LLC increased its position in shares of MRC Global by 6.9% in the second quarter. Aperio Group LLC now owns 26,786 shares of the oil and gas company’s stock worth $459,000 after acquiring an additional 1,722 shares in the last quarter. Wintrust Investments LLC increased its position in shares of MRC Global by 6.0% in the second quarter. Wintrust Investments LLC now owns 72,600 shares of the oil and gas company’s stock worth $1,243,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of MRC Global by 4,119.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock valued at $79,000 after purchasing an additional 4,490 shares during the period. 95.51% of the stock is owned by institutional investors and hedge funds.
About MRC Global
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure 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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