MRC Global (NYSE:MRC) Downgraded by StockNews.com

StockNews.com downgraded shares of MRC Global (NYSE:MRC) from a strong-buy rating to a buy rating in a report published on Wednesday.

Separately, Susquehanna reaffirmed a positive rating and set a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th.

MRC Global Stock Down 1.5 %

NYSE:MRC opened at $12.50 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $12.74 and its two-hundred day moving average is $12.71. MRC Global has a 52 week low of $9.47 and a 52 week high of $14.91. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.53 and a beta of 1.97.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company had revenue of $832.00 million for the quarter, compared to analysts’ expectations of $831.32 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue was down 4.5% compared to the same quarter last year. Research analysts anticipate that MRC Global will post 0.91 EPS for the current year.

Institutional Trading of MRC Global

A number of large investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in shares of MRC Global by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 72,238 shares of the oil and gas company’s stock worth $933,000 after acquiring an additional 1,149 shares during the period. ProShare Advisors LLC increased its holdings in MRC Global by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after buying an additional 1,186 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in MRC Global by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 32,061 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 1,289 shares during the last quarter. CWM LLC increased its holdings in MRC Global by 308.2% in the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,951 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MRC Global by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,532 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 2,176 shares during the last quarter. 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.