MRC Global (NYSE:MRC) Price Target Cut to $13.00 by Analysts at Susquehanna

MRC Global (NYSE:MRC) had its target price trimmed by Susquehanna from $15.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus decreased their price target on MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 17th. StockNews.com cut shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Loop Capital cut their price objective on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, March 18th.

MRC Global Stock Performance

Shares of NYSE MRC opened at $10.23 on Monday. The stock has a market cap of $880.63 million, a price-to-earnings ratio of 11.76 and a beta of 1.67. MRC Global has a 12 month low of $9.23 and a 12 month high of $15.41. The company has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $12.79. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last posted its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, analysts predict that MRC Global will post 0.86 earnings per share for the current year.

MRC Global declared that its board has authorized a share buyback program on Friday, January 3rd that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On MRC Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in MRC Global by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after buying an additional 42,331 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of MRC Global by 1.0% in the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock worth $74,452,000 after acquiring an additional 54,859 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of MRC Global by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock worth $48,914,000 after purchasing an additional 164,973 shares in the last quarter. American Century Companies Inc. raised its stake in MRC Global by 18.5% in the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock valued at $29,159,000 after purchasing an additional 356,372 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MRC Global by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,261,364 shares of the oil and gas company’s stock worth $28,900,000 after purchasing an additional 121,601 shares during the last quarter. 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.