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

Key Points

• Susquehanna raised the price objective for MRC Global's stock from $14.00 to $15.00, indicating a potential upside of 11.65% from its previous close.
• MRC Global reported $0.25 earnings per share for its latest quarter, surpassing analysts' expectations and generating revenue of $798 million, although down 4.1% year-over-year.
• A significant increase in institutional investment is noted, with firms like JPMorgan boosting their stakes by 419.3% in the last quarter.

MRC Global (NYSE:MRC - Free Report) had its price objective increased by Susquehanna from $14.00 to $15.00 in a research report released on Thursday,Benzinga reports. They currently have a positive rating on the oil and gas company's stock.

Several other brokerages have also issued reports on MRC. Wall Street Zen raised MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus lowered their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, July 21st.

MRC Global Stock Performance

MRC Global stock traded down $0.38 during midday trading on Thursday, reaching $13.76. The stock had a trading volume of 307,291 shares, compared to its average volume of 872,909. The firm's 50-day moving average price is $13.49 and its 200 day moving average price is $12.60. MRC Global has a 12 month low of $9.23 and a 12 month high of $15.59. The firm has a market capitalization of $1.17 billion, a PE ratio of -57.42 and a beta of 1.65. The company has a quick ratio of 1.00, a current ratio of 1.84 and a debt-to-equity ratio of 0.83.

MRC Global (NYSE:MRC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. MRC Global had a positive return on equity of 11.81% and a negative net margin of 0.10%. The firm had revenue of $798.00 million for the quarter, compared to analysts' expectations of $784.60 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company's revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that MRC Global will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MRC Global

A number of hedge funds and other institutional investors have recently made changes to their positions in MRC. SBI Securities Co. Ltd. grew its stake in shares of MRC Global by 98.7% in the second quarter. SBI Securities Co. Ltd. now owns 2,023 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 1,005 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 2,406 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of MRC Global in the first quarter worth $44,000. Meeder Asset Management Inc. grew its stake in shares of MRC Global by 24.7% in the first quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 1,081 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of MRC Global in the second quarter worth $67,000. Institutional investors own 94.97% of the company's stock.

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.