Benchmark started coverage on shares of MRC Global (NYSE:MRC – Get Rating) in a research note issued to investors on Thursday, The Fly reports. The firm issued a buy rating on the oil and gas company's stock.
Several other equities research analysts have also commented on the stock. StockNews.com upgraded shares of MRC Global from a hold rating to a buy rating in a research note on Wednesday, June 8th. TheStreet raised shares of MRC Global from a d+ rating to a c- rating in a research report on Tuesday, March 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of $12.00.
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Shares of MRC opened at $9.36 on Thursday. The firm's fifty day simple moving average is $10.53 and its 200-day simple moving average is $10.00. MRC Global has a twelve month low of $6.38 and a twelve month high of $13.44. The company has a current ratio of 1.93, a quick ratio of 0.98 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $781.40 million, a price-to-earnings ratio of -40.70 and a beta of 1.98.
MRC Global (NYSE:MRC – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The oil and gas company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. MRC Global had a negative net
margin of 0.04% and a positive return on equity of 14.63%. The firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $717.48 million. During the same period last year, the business earned ($0.07) EPS. MRC Global's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts predict that MRC Global will post 0.77 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of MRC Global in the first quarter valued at about $31,000. Lazard Asset Management LLC purchased a new stake in shares of MRC Global in the first quarter valued at about $96,000. Teacher Retirement System of Texas boosted its holdings in shares of MRC Global by 20.1% in the fourth quarter. Teacher Retirement System of Texas now owns 15,108 shares of the oil and gas company's stock valued at $104,000 after acquiring an additional 2,530 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of MRC Global in the first quarter valued at about $107,000. Finally, ProShare Advisors LLC boosted its holdings in shares of MRC Global by 70.5% in the fourth quarter. ProShare Advisors LLC now owns 17,590 shares of the oil and gas company's stock valued at $121,000 after acquiring an additional 7,272 shares in the last quarter. 94.09% of the stock is currently owned by institutional investors.
MRC Global Company Profile (Get Rating)
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. 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, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.
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