MRC Global (NYSE:MRC) PT Lowered to $15.00 at Raymond James

MRC Global (NYSE:MRC) had its price objective lowered by equities research analysts at Raymond James from $16.00 to $15.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ price objective would suggest a potential upside of 32.51% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on MRC Global from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Tuesday, September 24th. Scotiabank cut MRC Global from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $17.00 to $11.00 in a report on Friday, September 6th. Cowen cut MRC Global from an “outperform” rating to a “market perform” rating in a report on Thursday, September 12th. ValuEngine upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, TheStreet cut MRC Global from a “b-” rating to a “c” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.25.

MRC Global stock opened at $11.32 on Thursday. MRC Global has a 52 week low of $10.73 and a 52 week high of $18.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.22 and a current ratio of 2.62. The stock has a market capitalization of $927.02 million, a P/E ratio of 19.86, a PEG ratio of 0.92 and a beta of 2.07. The stock has a 50-day simple moving average of $12.25 and a 200 day simple moving average of $15.14.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). MRC Global had a return on equity of 11.23% and a net margin of 1.88%. The firm had revenue of $984.00 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was down 9.1% on a year-over-year basis. Research analysts forecast that MRC Global will post 0.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRC. Investors Research Corp raised its position in MRC Global by 50.0% during the second quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 600 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in MRC Global by 4,119.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock valued at $79,000 after acquiring an additional 4,490 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in MRC Global during the second quarter valued at $102,000. Jane Street Group LLC bought a new stake in MRC Global during the second quarter valued at $179,000. Finally, CWM Advisors LLC acquired a new position in shares of MRC Global during the second quarter valued at about $181,000. Institutional investors own 95.51% of the company’s stock.

About MRC Global

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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