Zacks: Analysts Expect MRC Global Inc (MRC) Will Announce Quarterly Sales of $978.53 Million

Wall Street brokerages forecast that MRC Global Inc (NYSE:MRC) will post $978.53 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for MRC Global’s earnings. The lowest sales estimate is $950.92 million and the highest is $1.04 billion. MRC Global posted sales of $1.01 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.1%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that MRC Global will report full-year sales of $4.27 billion for the current year, with estimates ranging from $4.21 billion to $4.38 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.54 billion, with estimates ranging from $4.38 billion to $4.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Thursday, February 14th. The oil and gas company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). MRC Global had a net margin of 1.77% and a return on equity of 10.41%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis.

Several research analysts have recently weighed in on the stock. ValuEngine downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Wells Fargo & Co reduced their target price on shares of MRC Global from $18.00 to $13.00 and set a “market perform” rating for the company in a research note on Friday, December 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 target price on shares of MRC Global in a research note on Wednesday, December 19th. Cowen reiterated a “buy” rating and issued a $24.00 target price on shares of MRC Global in a research note on Monday, December 3rd. Finally, Stephens restated a “buy” rating and issued a $22.00 price objective on shares of MRC Global in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. MRC Global currently has an average rating of “Buy” and a consensus price target of $21.30.

In other news, SVP John L. Bowhay sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.13, for a total transaction of $256,950.00. Following the completion of the transaction, the senior vice president now directly owns 70,854 shares of the company’s stock, valued at approximately $1,213,729.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Grant R. Bates sold 30,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $18.78, for a total transaction of $572,790.00. Following the transaction, the insider now directly owns 34,461 shares of the company’s stock, valued at $647,177.58. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in shares of MRC Global in the 4th quarter worth approximately $55,000. CX Institutional acquired a new stake in shares of MRC Global during the 4th quarter valued at about $57,000. Pearl River Capital LLC acquired a new stake in shares of MRC Global during the 4th quarter valued at about $101,000. Sun Life Financial INC acquired a new stake in shares of MRC Global during the 4th quarter valued at about $103,000. Finally, Amalgamated Bank acquired a new stake in shares of MRC Global during the 4th quarter valued at about $144,000.

Shares of NYSE MRC traded down $0.28 during midday trading on Monday, hitting $17.08. The company’s stock had a trading volume of 16,567 shares, compared to its average volume of 1,192,556. MRC Global has a 1-year low of $11.62 and a 1-year high of $22.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.17 and a current ratio of 2.57. The firm has a market capitalization of $1.42 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.96.

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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