Zacks: Brokerages Anticipate MRC Global Inc (MRC) Will Post Earnings of $0.10 Per Share

Wall Street brokerages expect MRC Global Inc (NYSE:MRC) to announce earnings of $0.10 per share for the current quarter, according to Zacks. Nine analysts have made estimates for MRC Global’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.17. MRC Global posted earnings of ($0.01) per share during the same quarter last year, which indicates a positive year over year growth rate of 1,100%. The business is scheduled to issue its next earnings report on Thursday, February 21st.

According to Zacks, analysts expect that MRC Global will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.54 to $0.65. For the next year, analysts expect that the business will post earnings of $1.11 per share, with EPS estimates ranging from $0.67 to $1.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). MRC Global had a net margin of 2.43% and a return on equity of 9.12%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted ($0.03) EPS. The business’s revenue was up 11.7% compared to the same quarter last year.

Several brokerages have recently issued reports on MRC. JPMorgan Chase & Co. boosted their price target on shares of MRC Global from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, September 17th. Raymond James reduced their price target on shares of MRC Global from $25.00 to $21.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Stephens set a $21.00 price target on shares of MRC Global and gave the company a “buy” rating in a report on Sunday, November 4th. Finally, Cowen reissued a “buy” rating and set a $24.00 price target on shares of MRC Global in a report on Monday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. MRC Global presently has an average rating of “Buy” and an average price target of $22.89.

Shares of MRC traded down $0.70 during midday trading on Thursday, hitting $15.05. 711,700 shares of the stock traded hands, compared to its average volume of 753,548. MRC Global has a 1-year low of $14.71 and a 1-year high of $22.98. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 501.67, a price-to-earnings-growth ratio of 1.75 and a beta of 1.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.23 and a current ratio of 2.64.

A number of hedge funds have recently bought and sold shares of MRC. FMR LLC lifted its holdings in MRC Global by 41.2% in the third quarter. FMR LLC now owns 6,939,117 shares of the oil and gas company’s stock worth $130,248,000 after purchasing an additional 2,024,925 shares during the period. Brown Advisory Inc. lifted its holdings in MRC Global by 143.4% in the third quarter. Brown Advisory Inc. now owns 2,819,366 shares of the oil and gas company’s stock worth $52,919,000 after purchasing an additional 1,661,200 shares during the period. Clearbridge Investments LLC lifted its holdings in MRC Global by 47.1% in the third quarter. Clearbridge Investments LLC now owns 4,257,055 shares of the oil and gas company’s stock worth $79,905,000 after purchasing an additional 1,362,284 shares during the period. Point72 Asset Management L.P. acquired a new stake in MRC Global in the second quarter worth about $22,417,000. Finally, Baillie Gifford & Co. acquired a new stake in MRC Global in the third quarter worth about $12,201,000. 97.90% of the stock is owned by institutional investors and hedge funds.

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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