MRC Global (NYSE:MRC) Research Coverage Started at Northland Securities

Northland Securities assumed coverage on shares of MRC Global (NYSE:MRC) in a research report report published on Wednesday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $7.50 price target on the oil and gas company’s stock.

MRC has been the subject of a number of other reports. Stephens reissued an overweight rating and set a $6.50 price objective (down from $14.00) on shares of MRC Global in a research report on Friday, April 3rd. Evercore ISI cut MRC Global to a hold rating in a research note on Tuesday, March 17th. Susquehanna Bancshares boosted their target price on MRC Global from $6.00 to $8.00 and gave the stock a positive rating in a research note on Thursday, April 30th. Stifel Nicolaus upgraded MRC Global from a hold rating to a buy rating and decreased their target price for the stock from $12.00 to $7.00 in a research note on Tuesday, March 10th. Finally, TheStreet cut MRC Global from a c- rating to a d+ rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $10.78.

NYSE MRC opened at $5.63 on Wednesday. The company has a market cap of $467.37 million, a P/E ratio of 93.85 and a beta of 2.33. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.35 and a quick ratio of 1.02. The stock has a 50-day moving average of $5.73 and a two-hundred day moving average of $8.24. MRC Global has a 1-year low of $3.31 and a 1-year high of $17.67.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.11. MRC Global had a return on equity of 8.61% and a net margin of 0.86%. The business had revenue of $794.00 million during the quarter, compared to the consensus estimate of $762.31 million. During the same period in the previous year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, analysts anticipate that MRC Global will post -0.38 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MRC. Great West Life Assurance Co. Can acquired a new stake in MRC Global in the fourth quarter valued at $67,000. Algert Global LLC acquired a new stake in MRC Global in the fourth quarter valued at $139,000. ProShare Advisors LLC acquired a new stake in MRC Global in the fourth quarter valued at $146,000. Amalgamated Bank grew its holdings in MRC Global by 8.5% in the fourth quarter. Amalgamated Bank now owns 12,918 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in MRC Global by 2,560.0% in the first quarter. Nisa Investment Advisors LLC now owns 13,300 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 12,800 shares during the last quarter. 98.70% 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 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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Analyst Recommendations for MRC Global (NYSE:MRC)

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