Susquehanna Issues Pessimistic Forecast for MRC Global (NYSE:MRC) Stock Price

MRC Global (NYSE:MRC) had its price target cut by Susquehanna from $15.00 to $13.00 in a report published on Monday,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

MRC has been the topic of several other reports. Stifel Nicolaus dropped their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Loop Capital cut their price target on shares of MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, StockNews.com downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research note on Monday, March 17th.

MRC Global Price Performance

MRC Global stock opened at $10.25 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $11.61 and a 200-day simple moving average of $12.76. The stock has a market cap of $882.35 million, a P/E ratio of 11.78 and a beta of 1.67. MRC Global has a 12-month low of $9.23 and a 12-month high of $15.41.

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

MRC Global announced that its board has approved a stock repurchase plan on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of MRC Global

A number of large investors have recently bought and sold shares of the business. Pullen Investment Management LLC purchased a new position in shares of MRC Global during the first quarter worth about $883,000. SG Americas Securities LLC lifted its position in MRC Global by 19.6% during the 1st quarter. SG Americas Securities LLC now owns 44,586 shares of the oil and gas company’s stock worth $512,000 after acquiring an additional 7,301 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of MRC Global in the 1st quarter valued at approximately $229,000. GAMMA Investing LLC grew its stake in shares of MRC Global by 1,576.2% in the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company’s stock valued at $161,000 after purchasing an additional 13,224 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MRC Global by 20.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 266,690 shares of the oil and gas company’s stock worth $3,408,000 after purchasing an additional 45,497 shares during the last quarter. Institutional investors and hedge funds 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.