MRC Global (NYSE:MRC) Stock Price Expected to Rise, Susquehanna Analyst Says

MRC Global (NYSE:MRC) had its target price boosted by Susquehanna from $16.00 to $17.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of MRC Global from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price objective on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

MRC Global Trading Down 1.4 %

NYSE MRC traded down $0.19 on Thursday, hitting $13.64. 470,470 shares of the stock were exchanged, compared to its average volume of 587,149. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. MRC Global has a 52-week low of $9.77 and a 52-week high of $14.91. The firm has a market capitalization of $1.16 billion, a P/E ratio of 14.67 and a beta of 1.97. The stock has a fifty day moving average price of $12.52 and a two-hundred day moving average price of $12.75.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm had revenue of $797.00 million during the quarter, compared to analysts’ expectations of $794.17 million. During the same period in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. Research analysts forecast that MRC Global will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On MRC Global

Institutional investors have recently bought and sold shares of the business. CWM LLC boosted its position in MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,951 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of MRC Global during the second quarter valued at about $45,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MRC Global in the 2nd quarter valued at about $56,000. Canada Pension Plan Investment Board purchased a new position in shares of MRC Global in the 2nd quarter worth approximately $56,000. Finally, nVerses Capital LLC purchased a new position in shares of MRC Global in the 2nd quarter worth approximately $70,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

About MRC Global

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.