MRC Global (NYSE:MRC) Rating Lowered to “Hold” at StockNews.com

MRC Global (NYSE:MRC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other equities analysts have also issued reports on MRC. Susquehanna decreased their target price on MRC Global from $17.00 to $15.00 and set a “positive” rating for the company in a research report on Monday. Stifel Nicolaus cut their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday.

MRC Global Price Performance

MRC Global stock opened at $12.08 on Monday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 13.88 and a beta of 1.96. MRC Global has a 1 year low of $9.42 and a 1 year high of $15.41. The business has a 50-day moving average of $13.12 and a 200-day moving average of $12.99. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

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

MRC Global declared that its board has authorized a stock buyback plan 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 reacquire up to 11% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On MRC Global

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in MRC Global by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after acquiring an additional 42,331 shares in the last quarter. Pzena Investment Management LLC lifted its stake in MRC Global by 1.0% in the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock valued at $74,452,000 after acquiring an additional 54,859 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in MRC Global by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock valued at $48,914,000 after acquiring an additional 164,973 shares in the last quarter. Wellington Management Group LLP lifted its stake in MRC Global by 1.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock valued at $40,886,000 after acquiring an additional 55,553 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in 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 acquiring an additional 356,372 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

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.