MRC Global Inc (NYSE:MRC) Expected to Post Earnings of $0.25 Per Share

Analysts expect MRC Global Inc (NYSE:MRC) to post $0.25 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for MRC Global’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.20. MRC Global posted earnings per share of $0.20 during the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is scheduled to announce its next earnings results after the market closes on Thursday, October 31st.

On average, analysts expect that MRC Global will report full-year earnings of $0.84 per share for the current financial year, with EPS estimates ranging from $0.72 to $1.08. For the next financial year, analysts forecast that the company will post earnings of $1.28 per share, with EPS estimates ranging from $0.95 to $1.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The business had revenue of $984.00 million for the quarter, compared to analyst estimates of $1.04 billion. MRC Global had a return on equity of 11.23% and a net margin of 1.88%. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share.

A number of analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of MRC Global in a report on Thursday, April 25th. They set a “hold” rating and a $20.00 target price on the stock. ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Raymond James dropped their target price on shares of MRC Global from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. TheStreet raised shares of MRC Global from a “c” rating to a “b-” rating in a report on Friday, August 2nd. Finally, Cowen reissued an “outperform” rating and set a $17.00 target price (down from $22.00) on shares of MRC Global in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Shares of NYSE:MRC opened at $13.21 on Friday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 0.86 and a beta of 1.98. MRC Global has a 1-year low of $11.62 and a 1-year high of $20.83. The company’s fifty day moving average is $15.58 and its two-hundred day moving average is $16.53. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.22 and a current ratio of 2.62.

Several institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew its position in shares of MRC Global by 0.9% during the first quarter. Clearbridge Investments LLC now owns 4,296,419 shares of the oil and gas company’s stock worth $75,101,000 after acquiring an additional 37,979 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of MRC Global by 7.2% during the second quarter. JPMorgan Chase & Co. now owns 2,089,546 shares of the oil and gas company’s stock worth $35,481,000 after acquiring an additional 141,131 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of MRC Global by 2.8% during the second quarter. Wells Fargo & Company MN now owns 1,758,627 shares of the oil and gas company’s stock worth $30,108,000 after acquiring an additional 47,985 shares during the last quarter. Northern Trust Corp grew its position in shares of MRC Global by 1.0% during the second quarter. Northern Trust Corp now owns 1,111,535 shares of the oil and gas company’s stock worth $19,030,000 after acquiring an additional 10,870 shares during the last quarter. Finally, Norges Bank bought a new position in shares of MRC Global during the fourth quarter worth about $12,704,000. Institutional investors and hedge funds own 96.92% of the company’s stock.

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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