MRC Global Inc. (NYSE:MRC) Expected to Post Earnings of $0.10 Per Share
Brokerages expect MRC Global Inc. (NYSE:MRC) to report earnings per share (EPS) of $0.10 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for MRC Global’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.21. MRC Global reported earnings of ($0.06) per share in the same quarter last year, which would indicate a positive year over year growth rate of 266.7%. The company is expected to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that MRC Global will report full year earnings of $0.19 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.31. For the next year, analysts forecast that the business will report earnings of $0.64 per share, with EPS estimates ranging from $0.27 to $0.95. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow MRC Global.
MRC Global (NYSE:MRC) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. The business had revenue of $922 million during the quarter, compared to analyst estimates of $916.82 million. MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. MRC Global’s revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share.
MRC has been the subject of several research reports. Raymond James Financial, Inc. raised shares of MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, April 19th. BidaskClub raised shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Stifel Nicolaus initiated coverage on shares of MRC Global in a research note on Tuesday, June 6th. They set a “buy” rating and a $22.00 price target for the company. ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Seaport Global Securities cut shares of MRC Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $17.00 in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $20.75.
Shares of MRC Global (NYSE MRC) opened at 16.10 on Monday. MRC Global has a 1-year low of $13.50 and a 1-year high of $22.52. The firm has a 50-day moving average of $16.50 and a 200-day moving average of $18.58. The firm’s market capitalization is $1.52 billion.
Several institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in MRC Global during the first quarter valued at $148,000. Envestnet Asset Management Inc. boosted its position in MRC Global by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 321 shares in the last quarter. Redwood Investments LLC boosted its position in MRC Global by 20.2% in the first quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock valued at $169,000 after buying an additional 1,554 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in MRC Global during the first quarter valued at $202,000. Finally, Laurion Capital Management LP purchased a new position in MRC Global during the first quarter valued at $227,000. 96.97% of the stock is owned by institutional investors and hedge funds.
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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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