MRC Global Inc (MRC) Expected to Post Earnings of $0.03 Per Share
Analysts expect that MRC Global Inc (NYSE:MRC) will announce earnings of $0.03 per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for MRC Global’s earnings. The lowest EPS estimate is ($0.01) and the highest is $0.08. MRC Global reported earnings per share of ($0.18) during the same quarter last year, which suggests a positive year over year growth rate of 116.7%. The company is expected to issue its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that MRC Global will report full year earnings of $0.08 per share for the current fiscal year, with EPS estimates ranging from $0.03 to $0.15. For the next fiscal year, analysts forecast that the company will report earnings of $0.62 per share, with EPS estimates ranging from $0.35 to $0.76. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover MRC Global.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of MRC Global in a report on Tuesday, October 17th. Robert W. Baird restated a “hold” rating and set a $21.00 price target on shares of MRC Global in a report on Monday, October 9th. Cowen set a $24.00 price target on shares of MRC Global and gave the company a “buy” rating in a report on Friday, October 6th. Finally, J P Morgan Chase & Co lowered their price target on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. MRC Global has a consensus rating of “Hold” and an average price target of $20.44.
MRC Global declared that its board has approved a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in MRC Global by 8.9% in the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after purchasing an additional 632,231 shares in the last quarter. FMR LLC boosted its holdings in MRC Global by 1.8% in the second quarter. FMR LLC now owns 6,270,253 shares of the oil and gas company’s stock worth $103,585,000 after purchasing an additional 108,278 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in MRC Global by 0.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,781,986 shares of the oil and gas company’s stock worth $66,147,000 after purchasing an additional 17,140 shares in the last quarter. Citadel Advisors LLC boosted its holdings in MRC Global by 60.9% in the third quarter. Citadel Advisors LLC now owns 3,078,500 shares of the oil and gas company’s stock worth $53,844,000 after purchasing an additional 1,164,950 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in MRC Global by 3.4% in the second quarter. JPMorgan Chase & Co. now owns 2,892,475 shares of the oil and gas company’s stock worth $47,784,000 after purchasing an additional 95,838 shares in the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.
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MRC Global Company Profile
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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