StockNews.com upgraded shares of MRC Global (NYSE:MRC – Free Report) from a buy rating to a strong-buy rating in a report released on Tuesday morning.
Separately, Susquehanna restated a positive rating and set a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th.
Read Our Latest Analysis on MRC
MRC Global Stock Performance
MRC Global (NYSE:MRC – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $832.00 million for the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. On average, sell-side analysts anticipate that MRC Global will post 0.91 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in MRC. CWM LLC grew its position in shares of MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,951 shares during the last quarter. Innealta Capital LLC purchased a new position in MRC Global during the 2nd quarter worth $45,000. DekaBank Deutsche Girozentrale acquired a new position in MRC Global in the second quarter valued at $56,000. Canada Pension Plan Investment Board purchased a new stake in shares of MRC Global in the second quarter valued at about $56,000. Finally, nVerses Capital LLC acquired a new stake in shares of MRC Global during the second quarter worth about $70,000. Institutional investors and hedge funds own 94.97% of the company’s stock.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.
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