MRC Global (NYSE:MRC) Price Target Cut to $13.00 by Analysts at Susquehanna

MRC Global (NYSE:MRC) had its price objective lowered by Susquehanna from $15.00 to $13.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

A number of other brokerages have also recently commented on MRC. Loop Capital lowered their target price on MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Stifel Nicolaus lowered their price objective on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th.

MRC Global Trading Down 0.3 %

NYSE MRC opened at $10.23 on Monday. The firm’s 50-day moving average is $11.72 and its two-hundred day moving average is $12.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. MRC Global has a 12 month low of $9.23 and a 12 month high of $15.41. The stock has a market capitalization of $880.63 million, a P/E ratio of 11.76 and a beta of 1.67.

MRC Global (NYSE:MRC) last announced its earnings results 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 for the quarter, compared to analyst estimates of $726.90 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that MRC Global will post 0.86 earnings per share for the current year.

MRC Global declared that its Board of Directors has initiated a stock repurchase plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 11% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of MRC Global

Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in MRC Global by 25.3% during the 3rd quarter. FMR LLC now owns 100,976 shares of the oil and gas company’s stock worth $1,286,000 after acquiring an additional 20,406 shares in the last quarter. State Street Corp lifted its position in shares of MRC Global by 1.2% during the 3rd quarter. State Street Corp now owns 1,923,272 shares of the oil and gas company’s stock worth $24,502,000 after purchasing an additional 23,125 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of MRC Global during the third quarter worth $167,000. Barclays PLC increased its holdings in MRC Global by 197.7% in the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company’s stock valued at $1,927,000 after buying an additional 100,384 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in MRC Global by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,956,725 shares of the oil and gas company’s stock valued at $24,934,000 after buying an additional 32,760 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

MRC Global Company Profile

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.