MRC Global (NYSE:MRC) Shares Gap Down - What's Next?

MRC Global Inc. (NYSE:MRC - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $12.73, but opened at $12.40. MRC Global shares last traded at $12.42, with a volume of 83,241 shares traded.

Analyst Ratings Changes

Several research firms have issued reports on MRC. Stifel Nicolaus lifted their target price on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday. StockNews.com cut shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 10th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $16.00 price target on shares of MRC Global in a report on Wednesday, June 26th.

MRC Global Stock Down 2.6 %

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.41 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. The business's 50 day moving average is $12.50 and its 200 day moving average is $12.72.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. The business had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts anticipate that MRC Global Inc. will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On MRC Global

Large investors have recently bought and sold shares of the company. CWM LLC raised its stake in shares of MRC Global by 308.2% during the 2nd 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. Innealta Capital LLC acquired a new stake in shares of MRC Global during the 2nd quarter worth approximately $45,000. DekaBank Deutsche Girozentrale purchased a new position in shares of MRC Global during the 2nd quarter valued at approximately $56,000. Canada Pension Plan Investment Board acquired a new position in shares of MRC Global in the 2nd quarter valued at $56,000. Finally, nVerses Capital LLC acquired a new position in shares of MRC Global in the 2nd quarter valued at $70,000. Hedge funds and other institutional investors 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.