MRC Global Inc. (MRC) Issues FY13 Earnings Guidance
MRC Global Inc. (NYSE:MRC) updated its FY13 earnings guidance on Thursday. The company provided EPS guidance of $1.65-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.74, Analyst Ratings Network.com reports. The company issued revenue guidance of $5.2-5.3 billion, compared to the consensus revenue estimate of $5.19 billion.
MRC Global Inc. (NYSE:MRC) traded down 0.78% on Thursday, hitting $27.95. The stock had a trading volume of 2,055,869 shares. MRC Global Inc. has a 52-week low of $21.60 and a 52-week high of $34.14. The stock has a 50-day moving average of $27.45 and a 200-day moving average of $27.94. The company has a market cap of $2.843 billion and a P/E ratio of 20.64.
MRC Global (NYSE:MRC) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.05. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, analysts predict that MRC Global Inc. will post $1.73 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at BB&T Corp. initiated coverage on shares of MRC Global in a research note to investors on Thursday, October 17th. They set a buy rating and a $33.00 price target on the stock. On a related note, analysts at Robert W. Baird raised their price target on shares of MRC Global from $28.00 to $33.00 in a research note to investors on Friday, October 4th. They now have an outperform rating on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of MRC Global from $29.00 to $32.50 in a research note to investors on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $31.60.
MRC Global Inc, formerly known as McJunkin Red Man Holding Corporation is a holding company. The Company is the distributor of pipe, valves and fittings (NYSE:MRC) and related products and services to the energy industry.
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