MRC Global Inc. (NYSE:MRC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of MRC Global Inc. (NYSE:MRC) have earned a consensus recommendation of “Buy” from the three brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $15.33.

A number of equities research analysts have commented on the company. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of MRC Global in a report on Wednesday, February 14th. Susquehanna boosted their price objective on shares of MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a report on Monday, April 8th.

Institutional Trading of MRC Global

Several institutional investors and hedge funds have recently modified their holdings of MRC. American Century Companies Inc. lifted its stake in MRC Global by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock valued at $20,389,000 after buying an additional 397,145 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of MRC Global by 303.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,740 shares of the oil and gas company’s stock valued at $1,176,000 after acquiring an additional 86,333 shares during the last quarter. Wellington Management Group LLP increased its position in MRC Global by 22.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock worth $30,863,000 after purchasing an additional 561,706 shares in the last quarter. Luminus Management LLC acquired a new position in MRC Global in the 3rd quarter valued at about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in MRC Global by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,651 shares of the oil and gas company’s stock valued at $12,778,000 after purchasing an additional 104,959 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Stock Up 0.4 %

MRC opened at $11.71 on Thursday. MRC Global has a 52 week low of $8.15 and a 52 week high of $13.00. The business has a 50 day moving average price of $12.10 and a two-hundred day moving average price of $11.19. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. The company has a market cap of $988.21 million, a PE ratio of 11.26 and a beta of 2.01.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $810.52 million. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. As a group, research analysts anticipate that MRC Global will post 0.99 EPS for the current year.

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.