MRC Global Inc (NYSE:MRC) – KeyCorp reduced their FY2018 earnings estimates for shares of MRC Global in a research report issued to clients and investors on Thursday, November 1st. KeyCorp analyst S. Barger now forecasts that the oil and gas company will post earnings per share of $0.65 for the year, down from their previous forecast of $0.70. KeyCorp also issued estimates for MRC Global’s Q4 2018 earnings at $0.14 EPS.
MRC Global (NYSE:MRC) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). MRC Global had a return on equity of 9.12% and a net margin of 2.43%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the business earned ($0.03) EPS. MRC Global’s revenue was up 11.7% on a year-over-year basis.
A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their target price on MRC Global from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, September 17th. Zacks Investment Research downgraded MRC Global from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. TheStreet raised MRC Global from a “c+” rating to a “b-” rating in a report on Thursday, July 26th. Raymond James reduced their target price on MRC Global from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Finally, Cowen reaffirmed a “buy” rating and issued a $25.00 target price on shares of MRC Global in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $23.00.
Shares of MRC stock opened at $17.00 on Monday. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 565.67, a price-to-earnings-growth ratio of 1.69 and a beta of 1.66. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $22.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.23 and a current ratio of 2.64.
Several hedge funds have recently modified their holdings of MRC. Global X Management Co LLC boosted its holdings in shares of MRC Global by 19.0% during the 2nd quarter. Global X Management Co LLC now owns 18,475 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 2,951 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MRC Global by 10.3% during the 1st quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock valued at $749,000 after acquiring an additional 4,235 shares in the last quarter. First Midwest Bank Trust Division boosted its holdings in shares of MRC Global by 13.2% during the 2nd quarter. First Midwest Bank Trust Division now owns 37,225 shares of the oil and gas company’s stock valued at $807,000 after acquiring an additional 4,338 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of MRC Global by 26.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 21,211 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of MRC Global by 0.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,002,522 shares of the oil and gas company’s stock valued at $21,725,000 after acquiring an additional 6,671 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.
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