MRC Global Inc (MRC) Receives $21.40 Consensus PT from Brokerages
Shares of MRC Global Inc (NYSE:MRC) have been assigned an average recommendation of “Buy” from the eleven research firms that are currently covering the stock. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.33.
A number of analysts recently issued reports on MRC shares. Zacks Investment Research lowered MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, January 9th. TheStreet upgraded MRC Global from a “d+” rating to a “c” rating in a research note on Thursday, February 16th. Evercore ISI boosted their price objective on MRC Global to $25.00 in a research note on Wednesday, February 22nd. Seaport Global Securities upgraded MRC Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $25.00 in a research note on Tuesday, February 21st. Finally, Raymond James Financial, Inc. upgraded MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday.
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In other MRC Global news, EVP Daniel J. Churay sold 3,080 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $21.30, for a total value of $65,604.00. Following the transaction, the executive vice president now directly owns 63,349 shares in the company, valued at approximately $1,349,333.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Glassman Wealth Services acquired a new position in shares of MRC Global during the fourth quarter worth $164,000. Wexford Capital LP acquired a new position in shares of MRC Global during the fourth quarter worth $223,000. Blue Rock Advisors LLC acquired a new position in shares of MRC Global during the third quarter worth $266,000. Credit Agricole S A acquired a new position in shares of MRC Global during the fourth quarter worth $288,000. Finally, Bayesian Capital Management LP acquired a new position in shares of MRC Global during the fourth quarter worth $318,000.
Shares of MRC Global (NYSE:MRC) traded up 1.17% during mid-day trading on Monday, reaching $18.16. The company’s stock had a trading volume of 716,676 shares. The company has a 50-day moving average of $18.52 and a 200-day moving average of $18.98. The firm’s market cap is $1.72 billion. MRC Global has a 12 month low of $11.50 and a 12 month high of $22.52.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, February 16th. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.07. MRC Global had a negative net margin of 13.92% and a negative return on equity of 0.01%. The company had revenue of $719 million for the quarter, compared to the consensus estimate of $752.88 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was down 25.6% compared to the same quarter last year. On average, analysts predict that MRC Global will post $0.08 earnings per share for the current year.
About MRC Global
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.
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