Q3 2017 EPS Estimates for MRC Global Inc Raised by Capital One Financial Corp. (MRC)

MRC Global Inc (NYSE:MRC) – Analysts at Capital One Financial Corp. boosted their Q3 2017 EPS estimates for shares of MRC Global in a research report issued on Thursday, according to Zacks Investment Research. Capital One Financial Corp. analyst J. Gibney now forecasts that the oil and gas company will earn $0.06 per share for the quarter, up from their prior estimate of $0.05. Capital One Financial Corp. also issued estimates for MRC Global’s Q4 2017 earnings at $0.14 EPS.

Several other equities analysts also recently issued reports on the stock. Raymond James Financial, Inc. upgraded shares of MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday. Susquehanna Bancshares Inc began coverage on shares of MRC Global in a report on Tuesday, April 11th. They set a “positive” rating and a $23.00 price objective on the stock. Evercore ISI upped their price objective on shares of MRC Global to $25.00 in a report on Wednesday, February 22nd. Seaport Global Securities upgraded shares of MRC Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $25.00 in a report on Tuesday, February 21st. Finally, TheStreet upgraded shares of MRC Global from a “d+” rating to a “c” rating in a report on Thursday, February 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $21.57.

Earnings History and Estimates for MRC Global (NYSE:MRC)

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MRC Global (NYSE:MRC) traded down 0.28% during midday trading on Friday, hitting $18.11. 595,266 shares of the stock traded hands. The company’s market cap is $1.72 billion. The firm’s 50-day moving average is $18.44 and its 200-day moving average is $18.97. MRC Global has a 52-week low of $11.50 and a 52-week high of $22.52.

MRC Global (NYSE:MRC) last posted its earnings results on Thursday, February 16th. The oil and gas company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. MRC Global had a negative return on equity of 0.01% and a negative net margin of 13.92%. The company earned $719 million during the quarter, compared to analysts’ expectations of $752.88 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was down 25.6% on a year-over-year basis.

Large investors have recently modified their holdings of the company. DIAM Co. Ltd. purchased a new stake in shares of MRC Global during the third quarter worth approximately $319,000. Blue Rock Advisors LLC purchased a new stake in shares of MRC Global during the third quarter worth approximately $266,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of MRC Global by 18.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 414,570 shares of the oil and gas company’s stock worth $6,812,000 after buying an additional 63,160 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of MRC Global by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 2,036,425 shares of the oil and gas company’s stock worth $33,458,000 after buying an additional 33,314 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in shares of MRC Global by 29.1% in the third quarter. Granite Investment Partners LLC now owns 658,280 shares of the oil and gas company’s stock worth $10,816,000 after buying an additional 148,402 shares during the last quarter.

In other news, EVP Daniel J. Churay sold 3,080 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $21.30, for a total transaction of $65,604.00. Following the sale, the executive vice president now owns 63,349 shares of the company’s stock, valued at approximately $1,349,333.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

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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