Susquehanna Has Lowered Expectations for MRC Global (NYSE:MRC) Stock Price

MRC Global (NYSE:MRC - Get Free Report) had its price target lowered by stock analysts at Susquehanna from $17.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "positive" rating on the oil and gas company's stock. Susquehanna's target price would suggest a potential upside of 25.58% from the company's current price.

Separately, Stifel Nicolaus reduced their price objective on MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Monday.

MRC Global Price Performance

Shares of NYSE:MRC traded down $0.35 during midday trading on Monday, reaching $11.95. The company's stock had a trading volume of 2,233,179 shares, compared to its average volume of 580,220. The business's fifty day simple moving average is $13.08 and its 200-day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. MRC Global has a fifty-two week low of $9.42 and a fifty-two week high of $15.41. The company has a market capitalization of $1.02 billion, a P/E ratio of 13.73 and a beta of 1.96.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $736.80 million during the quarter, compared to analysts' expectations of $726.90 million. During the same quarter last year, the company posted $0.23 EPS. The company's quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that MRC Global will post 0.86 EPS for the current fiscal year.

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MRC Global announced that its board has authorized a share buyback program on Friday, January 3rd that allows the company to buyback $125.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On MRC Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank acquired a new position in shares of MRC Global in the 4th quarter valued at $34,000. Sterling Capital Management LLC increased its holdings in 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 valued at $34,000 after purchasing an additional 2,406 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in MRC Global in the fourth quarter valued at about $56,000. Quantinno Capital Management LP bought a new position in MRC Global during the fourth quarter worth about $129,000. Finally, Longboard Asset Management LP acquired a new position in shares of MRC Global during the 4th quarter worth about $134,000. 94.97% of the stock is owned by institutional investors.

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.