MRC Global Inc. (MRC) Stock Rating Reaffirmed by Stifel Nicolaus

MRC Global Inc. (NYSE:MRC)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a report released on Tuesday, October 17th. They presently have a $20.00 target price on the oil and gas company’s stock. Stifel Nicolaus’ price target points to a potential upside of 20.34% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Cowen and Company set a $24.00 price objective on shares of MRC Global and gave the company a “buy” rating in a research report on Friday, October 6th. Robert W. Baird restated a “hold” rating and issued a $21.00 target price on shares of MRC Global in a report on Monday, October 9th. Wells Fargo & Company restated a “market perform” rating and issued a $17.00 target price (down from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. Seaport Global Securities downgraded shares of MRC Global from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $17.00 in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co decreased their target price on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. MRC Global currently has an average rating of “Hold” and a consensus target price of $20.67.

Shares of MRC Global (MRC) traded up $0.04 on Tuesday, reaching $16.62. 439,809 shares of the company’s stock were exchanged, compared to its average volume of 572,098. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.53. MRC Global has a one year low of $13.68 and a one year high of $22.52.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $922.00 million during the quarter, compared to analyst estimates of $916.82 million. MRC Global had a negative net margin of 0.09% and a positive return on equity of 1.45%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. research analysts anticipate that MRC Global will post 0.15 earnings per share for the current year.

MRC Global announced that its board has initiated a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. raised its position in MRC Global by 7.4% during the second quarter. Prudential Financial Inc. now owns 371,420 shares of the oil and gas company’s stock valued at $6,135,000 after acquiring an additional 25,720 shares in the last quarter. Aperio Group LLC grew its holdings in MRC Global by 3.0% during the second quarter. Aperio Group LLC now owns 24,078 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 698 shares during the last quarter. Bank of America Corp DE grew its holdings in MRC Global by 36.3% during the first quarter. Bank of America Corp DE now owns 627,269 shares of the oil and gas company’s stock valued at $11,499,000 after purchasing an additional 167,116 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in MRC Global during the second quarter valued at approximately $17,961,000. Finally, Clearbridge Investments LLC acquired a new position in MRC Global during the first quarter valued at approximately $28,656,000. 96.45% of the stock is owned by institutional investors and hedge funds.

MRC Global Company Profile

MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.

Analyst Recommendations for MRC Global (NYSE:MRC)

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