Wall Street brokerages predict that MRC Global Inc (NYSE:MRC) will post earnings per share (EPS) of $0.12 for the current quarter, according to Zacks. Seven analysts have provided estimates for MRC Global’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.19. MRC Global reported earnings of $0.20 per share in the same quarter last year, which would indicate a negative year over year growth rate of 40%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, October 31st.
On average, analysts expect that MRC Global will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.49 to $0.77. For the next year, analysts expect that the business will post earnings of $0.84 per share, with EPS estimates ranging from $0.57 to $1.24. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for MRC Global.
MRC Global (NYSE:MRC) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). MRC Global had a net margin of 1.88% and a return on equity of 11.23%. The business had revenue of $984.00 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $0.31 EPS. MRC Global’s revenue for the quarter was down 9.1% compared to the same quarter last year.
MRC has been the subject of several recent analyst reports. Stifel Nicolaus increased their target price on MRC Global from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Tuesday, September 24th. Raymond James decreased their target price on MRC Global from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. ValuEngine upgraded MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cowen downgraded MRC Global from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 12th. Finally, TheStreet downgraded MRC Global from a “b-” rating to a “c” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $16.25.
Institutional investors have recently bought and sold shares of the business. Investors Research Corp raised its holdings in MRC Global by 50.0% in the 2nd quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 600 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of MRC Global by 4,119.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock valued at $79,000 after buying an additional 4,490 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of MRC Global in the second quarter valued at approximately $102,000. Envestnet Asset Management Inc. raised its position in MRC Global by 14.3% during the third quarter. Envestnet Asset Management Inc. now owns 12,557 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 1,568 shares in the last quarter. Finally, MHI Funds LLC raised its position in MRC Global by 11.3% during the third quarter. MHI Funds LLC now owns 12,984 shares of the oil and gas company’s stock valued at $157,000 after purchasing an additional 1,318 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.
NYSE:MRC traded up $0.28 during mid-day trading on Wednesday, hitting $11.84. 47,116 shares of the company’s stock traded hands, compared to its average volume of 931,744. The firm has a 50 day moving average of $12.05 and a two-hundred day moving average of $14.85. MRC Global has a 12 month low of $10.73 and a 12 month high of $18.92. The firm has a market capitalization of $956.12 million, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 0.96 and a beta of 2.07. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 1.34.
About MRC Global
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.
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