Weiss Ratings Reaffirms Hold (C-) Rating for MRC Global (NYSE:MRC)

Key Points

• Weiss Ratings has reaffirmed a "hold (C-)" rating for MRC Global, indicating a cautious stance on the stock.
• MRC Global's stock price dropped to $14.28, with a consensus rating of "Hold" and an average price target of $16.00 from analysts.
• The company reported earnings of $0.25 per share, exceeding analysts' expectations, despite a 4.1% revenue decline compared to the previous year.

MRC Global (NYSE:MRC - Get Free Report)'s stock had its "hold (c-)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus lowered their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Susquehanna downgraded MRC Global from a "positive" rating to a "neutral" rating and set a $15.00 price objective on the stock. in a research report on Thursday, October 2nd. Finally, Zacks Research upgraded MRC Global to a "hold" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.00.

MRC Global Price Performance

Shares of MRC stock traded down $0.57 on Wednesday, reaching $14.28. The company's stock had a trading volume of 29,578 shares, compared to its average volume of 827,065. 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 has a 12-month low of $9.23 and a 12-month high of $15.59. The company has a market capitalization of $1.21 billion, a P/E ratio of -59.52 and a beta of 1.62. The stock's 50 day simple moving average is $14.49 and its 200-day simple moving average is $13.13.

MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $798.00 million for the quarter, compared to the consensus estimate of $784.60 million. During the same quarter last year, the business posted $0.28 earnings per share. The firm's revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts predict that MRC Global will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MRC Global

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in MRC Global during the second quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new stake in MRC Global during the second quarter valued at about $27,000. SBI Securities Co. Ltd. raised its position in MRC Global by 98.7% during the second quarter. SBI Securities Co. Ltd. now owns 2,023 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 1,005 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of MRC Global during the first quarter valued at about $44,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of MRC Global during the second quarter valued at about $67,000. Hedge funds and other institutional investors 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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