Susquehanna Lowers MRC Global (NYSE:MRC) Price Target to $15.00

MRC Global (NYSE:MRC) had its target price cut by equities researchers at Susquehanna from $17.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target would indicate a potential upside of 24.22% from the company’s current price.

Separately, Stifel Nicolaus lowered their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday.

MRC Global Stock Performance

MRC opened at $12.08 on Monday. MRC Global has a 12-month low of $9.42 and a 12-month high of $15.41. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 13.88 and a beta of 1.96. The business has a 50 day moving average of $13.12 and a 200-day moving average of $12.99. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $726.90 million. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. On average, equities research analysts expect that MRC Global will post 0.86 earnings per share for the current year.

MRC Global announced that its Board of Directors has authorized a share repurchase program on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On MRC Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank bought a new stake in MRC Global during the 4th quarter worth $34,000. Sterling Capital Management LLC lifted its stake in shares of MRC Global by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,406 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of MRC Global in the 4th quarter valued at about $56,000. Quantinno Capital Management LP acquired a new position in MRC Global during the 4th quarter worth approximately $129,000. Finally, Longboard Asset Management LP acquired a new position in MRC Global during the 4th quarter worth approximately $134,000. 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.