MRC Global Inc. (MRC) Given a $24.00 Price Target by Cowen and Company Analysts

MRC Global Inc. (NYSE:MRC) received a $24.00 price target from equities research analysts at Cowen and Company in a research note issued to investors on Friday. The firm currently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price target would indicate a potential upside of 34.38% from the stock’s current price.

A number of other analysts also recently issued reports on MRC. J P Morgan Chase & Co dropped their target price on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Robert W. Baird restated a “hold” rating and issued a $21.00 price target on shares of MRC Global in a report on Sunday, September 10th. ValuEngine cut MRC Global from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wells Fargo & Company restated a “market perform” rating and issued a $17.00 price target (down previously from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. Finally, Stifel Nicolaus restated a “buy” rating on shares of MRC Global in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. MRC Global presently has an average rating of “Hold” and an average target price of $21.11.

MRC Global (NYSE:MRC) opened at 17.86 on Friday. The stock’s market cap is $1.69 billion. The stock has a 50 day moving average of $16.75 and a 200 day moving average of $17.41. MRC Global has a 1-year low of $13.68 and a 1-year high of $22.52.

MRC Global (NYSE:MRC) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $922.00 million for the quarter, compared to analyst estimates of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period last year, the company posted ($0.15) EPS. Equities analysts expect that MRC Global will post $0.14 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “MRC Global Inc. (MRC) Given a $24.00 Price Target by Cowen and Company Analysts” was originally reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://transcriptdaily.com/2017/10/08/mrc-global-inc-mrc-given-a-24-00-price-target-by-cowen-and-company-analysts.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Koch Industries Inc. purchased a new position in MRC Global in the 2nd quarter worth approximately $238,000. Sterling Capital Management LLC purchased a new position in shares of MRC Global during the 2nd quarter valued at approximately $1,046,000. Susquehanna International Group LLP purchased a new position in shares of MRC Global during the 2nd quarter valued at approximately $761,000. BlueCrest Capital Management Ltd purchased a new position in shares of MRC Global during the 2nd quarter valued at approximately $2,179,000. Finally, State Street Corp boosted its stake in shares of MRC Global by 2.4% during the 2nd quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock valued at $32,863,000 after buying an additional 45,858 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About MRC Global

MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.

Analyst Recommendations for MRC Global (NYSE:MRC)

Receive News & Ratings for MRC Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply