$0.03 EPS Expected for MRC Global Inc. (NYSE:MRC) This Quarter
Analysts expect that MRC Global Inc. (NYSE:MRC) will post earnings per share of $0.03 for the current quarter, Zacks reports. Eight analysts have provided estimates for MRC Global’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.07. MRC Global posted earnings of ($0.21) per share during the same quarter last year, which would suggest a positive year over year growth rate of 114.3%. The firm is expected to issue its next earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that MRC Global will report full-year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.31. For the next financial year, analysts forecast that the firm will report earnings of $0.70 per share, with EPS estimates ranging from $0.45 to $0.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow MRC Global.
MRC Global (NYSE:MRC) last issued its earnings results on Thursday, May 4th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The business had revenue of $862 million for the quarter, compared to analyst estimates of $798.38 million. MRC Global had a negative net margin of 2.21% and a negative return on equity of 2.39%. MRC Global’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share.
A number of research analysts have issued reports on MRC shares. Wells Fargo & Company reissued a “market perform” rating and set a $17.00 price objective (down from $20.00) on shares of MRC Global in a research report on Wednesday, July 12th. UBS AG raised shares of MRC Global from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 19th. Susquehanna Bancshares Inc started coverage on shares of MRC Global in a research report on Tuesday, April 11th. They set a “positive” rating and a $23.00 price objective on the stock. KeyCorp reissued a “sector weight” rating on shares of MRC Global in a research report on Friday, May 26th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of MRC Global in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.22.
MRC Global (NYSE MRC) opened at 16.76 on Tuesday. The company’s 50-day moving average is $18.15 and its 200 day moving average is $19.28. The company’s market capitalization is $1.58 billion. MRC Global has a 52 week low of $11.50 and a 52 week high of $22.52.
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Several hedge funds have recently made changes to their positions in MRC. Vanguard Group Inc. boosted its stake in shares of MRC Global by 12.5% in the first quarter. Vanguard Group Inc. now owns 8,073,947 shares of the oil and gas company’s stock worth $147,994,000 after buying an additional 894,581 shares during the period. BlackRock Inc. boosted its stake in shares of MRC Global by 17,937.8% in the first quarter. BlackRock Inc. now owns 7,126,027 shares of the oil and gas company’s stock worth $130,618,000 after buying an additional 7,086,521 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MRC Global by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 2,796,637 shares of the oil and gas company’s stock worth $51,263,000 after buying an additional 350,316 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of MRC Global by 1.7% in the first quarter. Frontier Capital Management Co. LLC now owns 2,532,434 shares of the oil and gas company’s stock worth $46,420,000 after buying an additional 42,149 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of MRC Global by 0.3% in the first quarter. Wells Fargo & Company MN now owns 2,228,488 shares of the oil and gas company’s stock worth $40,848,000 after buying an additional 7,203 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.
About MRC Global
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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