Brokers Set Expectations for MRC Global Inc.’s Q1 2018 Earnings (NYSE:MRC)
MRC Global Inc. (NYSE:MRC) – Stock analysts at Seaport Global Securities lifted their Q1 2018 EPS estimates for MRC Global in a research note issued to investors on Monday. Seaport Global Securities analyst W. Liptak now forecasts that the oil and gas company will earn $0.08 per share for the quarter, up from their previous forecast of $0.07. Seaport Global Securities has a “Neutral” rating and a $17.00 price target on the stock. Seaport Global Securities also issued estimates for MRC Global’s Q4 2018 earnings at $0.09 EPS.
Several other analysts have also recently issued reports on MRC. Susquehanna Bancshares Inc started coverage on shares of MRC Global in a research note on Tuesday, April 11th. They set a “positive” rating and a $23.00 price objective for the company. UBS AG raised shares of MRC Global from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 19th. 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. KeyCorp reissued a “sector weight” rating on shares of MRC Global in a research note on Friday, May 26th. Finally, Stifel Nicolaus started coverage on shares of MRC Global in a research note on Tuesday, June 6th. They issued a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. MRC Global currently has an average rating of “Hold” and an average target price of $21.50.
Shares of MRC Global (NYSE MRC) traded down 0.32% during mid-day trading on Tuesday, reaching $15.65. 117,614 shares of the company’s stock traded hands. MRC Global has a 12-month low of $13.50 and a 12-month high of $22.52. The company’s 50-day moving average price is $16.50 and its 200-day moving average price is $18.58. The stock’s market capitalization is $1.48 billion.
MRC Global (NYSE:MRC) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $922 million during the quarter, compared to the consensus estimate of $916.82 million. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS.
Several institutional investors have recently bought and sold shares of MRC. JPMorgan Chase & Co. boosted its position in 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 last quarter. Miller Howard Investments Inc. NY boosted its position in MRC Global by 5.5% in the first quarter. Miller Howard Investments Inc. NY now owns 309,586 shares of the oil and gas company’s stock worth $5,675,000 after buying an additional 16,119 shares during the last quarter. Prudential Financial Inc. boosted its position in MRC Global by 802.8% in the first quarter. Prudential Financial Inc. now owns 345,700 shares of the oil and gas company’s stock worth $6,336,000 after buying an additional 307,410 shares during the last quarter. Clearbridge Investments LLC bought a new position in MRC Global during the first quarter worth $28,656,000. Finally, Hartford Investment Management Co. bought a new position in MRC Global during the first quarter worth $2,906,000. 96.97% of the stock is owned by hedge funds and other institutional investors.
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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