Wall Street brokerages predict that MRC Global Inc (NYSE:MRC) will post earnings per share of $0.24 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for MRC Global’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.20. MRC Global reported earnings of $0.02 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 1,100%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that MRC Global will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.62 to $0.87. For the next financial year, analysts forecast that the company will report earnings of $1.21 per share, with EPS estimates ranging from $1.01 to $1.48. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow MRC Global.
MRC Global (NYSE:MRC) last released its earnings results on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. MRC Global had a net margin of 1.97% and a return on equity of 7.00%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS.
MRC has been the topic of several analyst reports. TheStreet raised MRC Global from a “c+” rating to a “b-” rating in a research report on Thursday, July 26th. Cowen reaffirmed a “buy” rating and issued a $25.00 price objective on shares of MRC Global in a research report on Friday, October 12th. ValuEngine raised MRC Global from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Stifel Nicolaus upped their price objective on MRC Global from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, Northcoast Research initiated coverage on MRC Global in a research report on Tuesday, July 31st. They issued a “buy” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. MRC Global presently has an average rating of “Buy” and a consensus price target of $23.75.
A number of institutional investors have recently made changes to their positions in MRC. Northern Trust Corp grew its position in MRC Global by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,121,413 shares of the oil and gas company’s stock valued at $18,436,000 after acquiring an additional 4,310 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of MRC Global by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock worth $749,000 after buying an additional 4,235 shares in the last quarter. Barclays PLC grew its position in shares of MRC Global by 97.3% during the 1st quarter. Barclays PLC now owns 35,798 shares of the oil and gas company’s stock worth $588,000 after buying an additional 17,655 shares in the last quarter. LPL Financial LLC grew its position in shares of MRC Global by 118.5% during the 1st quarter. LPL Financial LLC now owns 40,288 shares of the oil and gas company’s stock worth $662,000 after buying an additional 21,852 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of MRC Global by 358.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 54,413 shares of the oil and gas company’s stock worth $895,000 after buying an additional 42,551 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.
NYSE MRC opened at $16.64 on Friday. The company has a market cap of $1.54 billion, a PE ratio of 554.67, a P/E/G ratio of 1.63 and a beta of 1.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.12 and a current ratio of 2.43. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $22.98.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related 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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