Equities analysts predict that MRC Global Inc (NYSE:MRC) will report $950.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for MRC Global’s earnings, with the highest sales estimate coming in at $1.02 billion and the lowest estimate coming in at $929.00 million. MRC Global posted sales of $1.07 billion during the same quarter last year, which suggests a negative year over year growth rate of 11.1%. The business is expected to report its next quarterly earnings results after the market closes on Thursday, October 31st.
According to Zacks, analysts expect that MRC Global will report full-year sales of $3.87 billion for the current fiscal year, with estimates ranging from $3.77 billion to $4.15 billion. For the next year, analysts expect that the firm will post sales of $4.00 billion, with estimates ranging from $3.85 billion to $4.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover MRC Global.
MRC Global (NYSE:MRC) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $984.00 million for the quarter, compared to analysts’ expectations of $1.04 billion. MRC Global had a return on equity of 11.23% and a net margin of 1.88%. MRC Global’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.
Several equities research analysts have commented on MRC shares. TheStreet upgraded shares of MRC Global from a “c” rating to a “b-” rating in a research report on Friday, August 2nd. ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Scotiabank lowered shares of MRC Global from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $17.00 to $11.00 in a research report on Friday, September 6th. Cowen lowered shares of MRC Global from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Raymond James set a $16.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.44.
Shares of NYSE MRC traded down $0.02 during trading on Monday, hitting $13.23. 850,581 shares of the company were exchanged, compared to its average volume of 926,946. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.05 and a beta of 2.09. MRC Global has a 1 year low of $11.19 and a 1 year high of $19.88. The firm’s fifty day moving average price is $13.47 and its 200 day moving average price is $15.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.62 and a quick ratio of 1.22.
Institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp boosted its position in shares of MRC Global by 50.0% in the 2nd quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock worth $31,000 after buying an additional 600 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of MRC Global by 4,119.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock worth $79,000 after buying an additional 4,490 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of MRC Global in the 2nd quarter worth about $102,000. Jane Street Group LLC purchased a new stake in shares of MRC Global in the 2nd quarter worth about $179,000. Finally, CWM Advisors LLC purchased a new stake in shares of MRC Global in the 2nd quarter worth about $181,000. Institutional investors and hedge funds own 95.53% of the company’s stock.
MRC Global Company Profile
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure 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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