MRC Global (MRC) Expected to Post Earnings of $0.21 Per Share

Brokerages predict that MRC Global (NYSE:MRC) will report $0.21 earnings per share for the current quarter, Zacks reports. Seven analysts have issued estimates for MRC Global’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.18. MRC Global reported earnings per share of $0.02 in the same quarter last year, which would suggest a positive year-over-year growth rate of 950%. The firm is scheduled to announce its next earnings report on Thursday, August 2nd.

On average, analysts expect that MRC Global will report full-year earnings of $0.87 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.98. For the next year, analysts forecast that the company will post earnings of $1.20 per share, with EPS estimates ranging from $1.02 to $1.42. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow MRC Global.

MRC Global (NYSE:MRC) last released its earnings results on Wednesday, May 2nd. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. MRC Global had a net margin of 1.63% and a return on equity of 5.13%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $948.42 million. The business’s revenue was up 17.2% compared to the same quarter last year.

MRC has been the subject of a number of research reports. Alembic Global Advisors reaffirmed a “buy” rating on shares of MRC Global in a report on Friday, January 19th. Zacks Investment Research lowered shares of MRC Global from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Stifel Nicolaus dropped their target price on shares of MRC Global from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 16th. Finally, Susquehanna Bancshares set a $22.00 target price on shares of MRC Global and gave the stock a “buy” rating in a report on Friday, April 13th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $20.56.

In other news, CAO Elton Ray Bond sold 6,708 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $20.16, for a total transaction of $135,233.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barbara J. Duganier sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $17.49, for a total transaction of $52,470.00. Following the transaction, the director now directly owns 21,262 shares in the company, valued at approximately $371,872.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 846,068 shares of company stock worth $16,440,589. Corporate insiders own 7.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in MRC Global by 10.0% in the fourth quarter. Mackenzie Financial Corp now owns 976,000 shares of the oil and gas company’s stock valued at $16,514,000 after buying an additional 89,000 shares during the last quarter. Deutsche Bank AG lifted its position in MRC Global by 86.7% in the fourth quarter. Deutsche Bank AG now owns 706,074 shares of the oil and gas company’s stock valued at $11,945,000 after buying an additional 327,880 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in MRC Global by 13.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 93,012 shares of the oil and gas company’s stock valued at $1,574,000 after buying an additional 10,778 shares during the last quarter. Koch Industries Inc. acquired a new position in MRC Global in the fourth quarter valued at about $217,000. Finally, Thrivent Financial For Lutherans lifted its position in MRC Global by 58.5% in the fourth quarter. Thrivent Financial For Lutherans now owns 2,276,750 shares of the oil and gas company’s stock valued at $38,523,000 after buying an additional 840,210 shares during the last quarter.

MRC Global opened at $20.66 on Friday, MarketBeat Ratings reports. MRC Global has a 52-week low of $20.13 and a 52-week high of $20.47. The firm has a market cap of $1.82 billion, a PE ratio of 688.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.49. The company has a quick ratio of 1.08, a current ratio of 2.30 and a debt-to-equity ratio of 0.85.

About MRC Global

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

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