Equities analysts expect MRC Global Inc (NYSE:MRC) to report earnings per share (EPS) of ($0.04) for the current quarter, according to Zacks. Eight analysts have provided estimates for MRC Global’s earnings, with estimates ranging from ($0.11) to $0.03. MRC Global posted earnings of ($0.21) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 81%. The business is expected to report its next earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that MRC Global will report full-year earnings of $0.07 per share for the current financial year, with EPS estimates ranging from ($0.04) to $0.20. For the next fiscal year, analysts expect that the business will report earnings of $0.59 per share, with EPS estimates ranging from $0.25 to $1.00. Zacks’ EPS calculations are an average based on a survey of research firms that follow MRC Global.
MRC Global (NYSE:MRC) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. The firm earned $862 million during the quarter, compared to analyst estimates of $798.38 million. MRC Global had a negative return on equity of 0.01% and a negative net margin of 13.92%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned ($0.10) earnings per share.
A number of equities analysts have recently issued reports on MRC shares. Zacks Investment Research downgraded MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. TheStreet upgraded MRC Global from a “d+” rating to a “c” rating in a research report on Thursday, February 16th. Evercore ISI raised their price objective on MRC Global to $25.00 in a research report on Wednesday, February 22nd. Seaport Global Securities upgraded MRC Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $25.00 in a research report on Tuesday, February 21st. Finally, Raymond James Financial, Inc. upgraded MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.57.
Shares of MRC Global (NYSE:MRC) traded up 8.18% during mid-day trading on Wednesday, reaching $19.04. The company had a trading volume of 1,123,880 shares. The company’s market cap is $1.81 billion. MRC Global has a 52-week low of $11.50 and a 52-week high of $22.52. The firm’s 50-day moving average price is $18.31 and its 200 day moving average price is $19.13.
In other news, EVP Daniel J. Churay sold 3,080 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $21.30, for a total transaction of $65,604.00. Following the completion of the transaction, the executive vice president now directly owns 63,349 shares in the company, valued at $1,349,333.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Tweedy Browne Co. LLC boosted its stake in MRC Global by 7.6% in the fourth quarter. Tweedy Browne Co. LLC now owns 4,805,543 shares of the oil and gas company’s stock valued at $97,360,000 after buying an additional 340,642 shares in the last quarter. Norges Bank acquired a new stake in MRC Global during the fourth quarter valued at approximately $32,826,000. Scopus Asset Management L.P. acquired a new stake in MRC Global during the third quarter valued at approximately $4,929,000. Frontier Capital Management Co. LLC boosted its stake in MRC Global by 10.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,490,285 shares of the oil and gas company’s stock valued at $50,453,000 after buying an additional 232,364 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in MRC Global during the fourth quarter valued at approximately $6,830,000.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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