MRC Global Inc. (NYSE:MRC) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $16.00.
A number of brokerages recently issued reports on MRC. Cowen and Company began coverage on shares of MRC Global in a report on Friday, September 16th. They set a “market perform” rating and a $16.00 price target on the stock. Wells Fargo & Co. reissued a “hold” rating on shares of MRC Global in a report on Sunday, September 4th. Maxim Group raised shares of MRC Global from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, August 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of MRC Global in a report on Wednesday, August 3rd. Finally, Capital One Financial Corp. raised shares of MRC Global from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 3rd.
MRC Global (NYSE:MRC) opened at 16.04 on Monday. The company’s 50 day moving average is $15.13 and its 200-day moving average is $14.22. The stock’s market cap is $1.55 billion. MRC Global has a 1-year low of $8.50 and a 1-year high of $17.11.
MRC Global (NYSE:MRC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.07. MRC Global had a positive return on equity of 1.60% and a negative net margin of 11.27%. The firm had revenue of $746 million for the quarter, compared to analysts’ expectations of $747.81 million. During the same period last year, the company posted $0.22 earnings per share. The business’s quarterly revenue was down 37.7% on a year-over-year basis. Equities research analysts forecast that MRC Global will post ($0.59) earnings per share for the current fiscal year.
In other news, Director Gerard Pieter Krans sold 23,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $15.33, for a total value of $352,590.00. Following the completion of the sale, the director now directly owns 18,802 shares in the company, valued at $288,234.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel J. Churay sold 5,350 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $14.77, for a total transaction of $79,019.50. Following the completion of the sale, the executive vice president now owns 46,292 shares of the company’s stock, valued at $683,732.84. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Fox Run Management L.L.C. acquired a new stake in shares of MRC Global during the third quarter worth approximately $468,000. First Mercantile Trust Co. boosted its stake in shares of MRC Global by 194.4% in the third quarter. First Mercantile Trust Co. now owns 35,045 shares of the company’s stock worth $576,000 after buying an additional 23,143 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of MRC Global by 11.8% in the third quarter. BNP Paribas Arbitrage SA now owns 9,180 shares of the company’s stock worth $151,000 after buying an additional 970 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of MRC Global by 10.6% in the second quarter. Public Employees Retirement System of Ohio now owns 18,193 shares of the company’s stock worth $259,000 after buying an additional 1,737 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of MRC Global by 8.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 689,035 shares of the company’s stock worth $9,792,000 after buying an additional 56,479 shares during the period. Institutional investors and hedge funds own 99.30% of the company’s stock.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan.
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