MRC Global Inc. (MRC) Now Covered by Analysts at Cowen and Company
MRC has been the subject of a number of other research reports. Wells Fargo & Co. reiterated a hold rating on shares of MRC Global in a research report on Sunday, September 4th. Capital One Financial Corp. upgraded MRC Global from an equal weight rating to an overweight rating in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded MRC Global from a hold rating to a sell rating in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reiterated a buy rating on shares of MRC Global in a research report on Wednesday, August 3rd. Finally, Maxim Group upgraded MRC Global from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. MRC Global currently has an average rating of Hold and a consensus target price of $16.00.
MRC Global (NYSE:MRC) opened at 14.54 on Friday. The firm’s 50-day moving average price is $14.42 and its 200-day moving average price is $13.97. MRC Global has a 12 month low of $8.50 and a 12 month high of $15.59. The firm’s market cap is $1.40 billion.
MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.07. MRC Global had a negative net margin of 11.27% and a positive return on equity of 1.60%. The business had revenue of $746 million for the quarter, compared to the consensus estimate of $747.81 million. During the same quarter in the previous year, the company earned $0.22 EPS. MRC Global’s revenue for the quarter was down 37.7% compared to the same quarter last year. Equities research analysts predict that MRC Global will post ($0.59) earnings per share for the current year.
In related news, Director Gerard Pieter Krans sold 36,150 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $15.30, for a total transaction of $553,095.00. Following the completion of the sale, the director now directly owns 18,802 shares of the company’s stock, valued at approximately $287,670.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Churay sold 5,350 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $14.77, for a total value of $79,019.50. Following the sale, the executive vice president now directly 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 owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its stake in 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 in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in 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 in the last quarter. Legal & General Group Plc boosted its stake in MRC Global by 50.9% in the second quarter. Legal & General Group Plc now owns 156,520 shares of the company’s stock worth $2,207,000 after buying an additional 52,805 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in MRC Global during the second quarter worth $180,000. Finally, AQR Capital Management LLC boosted its stake in MRC Global by 13.0% in the second quarter. AQR Capital Management LLC now owns 352,538 shares of the company’s stock worth $5,009,000 after buying an additional 40,636 shares in the last quarter.
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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