MRC Global (NYSE:MRC) Announces Earnings Results, Meets Expectations

MRC Global (NYSE:MRC) issued its quarterly earnings results on Friday. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08, reports. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. During the same period in the previous year, the firm posted $0.23 EPS. MRC Global’s revenue was down 10.3% on a year-over-year basis.

MRC Global Trading Up 1.3 %

NYSE MRC traded up $0.15 during trading hours on Friday, hitting $11.26. 964,146 shares of the company’s stock were exchanged, compared to its average volume of 562,444. The business’s 50 day moving average is $13.23 and its 200-day moving average is $13.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global has a 12-month low of $9.41 and a 12-month high of $15.41. The firm has a market capitalization of $959.75 million, a P/E ratio of 12.91 and a beta of 1.96.

MRC Global declared that its board has approved a stock buyback plan on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.