MRC Global Inc (MRC) Expected to Post Quarterly Sales of $978.53 Million

Equities analysts forecast that MRC Global Inc (NYSE:MRC) will announce $978.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for MRC Global’s earnings, with the lowest sales estimate coming in at $950.92 million and the highest estimate coming in at $1.04 billion. MRC Global reported sales of $1.01 billion during the same quarter last year, which indicates a negative year over year growth rate of 3.1%. The business is expected to announce its next earnings report after the market closes on Thursday, May 2nd.

On average, analysts expect that MRC Global will report full year sales of $4.27 billion for the current financial year, with estimates ranging from $4.21 billion to $4.38 billion. For the next financial year, analysts anticipate that the business will report sales of $4.54 billion, with estimates ranging from $4.38 billion to $4.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Thursday, February 14th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. MRC Global had a return on equity of 10.41% and a net margin of 1.77%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS.

Several research firms recently issued reports on MRC. ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Cowen reissued a “buy” rating and issued a $24.00 target price on shares of MRC Global in a report on Monday, December 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 target price on shares of MRC Global in a report on Wednesday, December 19th. Finally, Wells Fargo & Co cut their target price on shares of MRC Global from $18.00 to $13.00 and set a “market perform” rating for the company in a report on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. MRC Global presently has a consensus rating of “Buy” and a consensus price target of $21.30.

In other news, insider Grant R. Bates sold 30,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $18.78, for a total transaction of $572,790.00. Following the completion of the transaction, the insider now directly owns 34,461 shares of the company’s stock, valued at approximately $647,177.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John L. Bowhay sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.13, for a total value of $256,950.00. Following the transaction, the senior vice president now directly owns 70,854 shares of the company’s stock, valued at $1,213,729.02. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new stake in shares of MRC Global during the fourth quarter worth approximately $55,000. CX Institutional purchased a new stake in shares of MRC Global during the fourth quarter worth approximately $57,000. Pearl River Capital LLC purchased a new stake in shares of MRC Global during the fourth quarter worth approximately $101,000. Sun Life Financial INC purchased a new stake in shares of MRC Global during the fourth quarter worth approximately $103,000. Finally, Amalgamated Bank purchased a new stake in shares of MRC Global during the fourth quarter worth approximately $144,000.

Shares of NYSE:MRC traded up $0.44 during midday trading on Monday, reaching $17.46. The company’s stock had a trading volume of 628,495 shares, compared to its average volume of 1,009,448. The company has a market capitalization of $1.43 billion, a PE ratio of 30.63, a P/E/G ratio of 1.22 and a beta of 1.96. MRC Global has a 12-month low of $11.62 and a 12-month high of $22.98. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.57 and a quick ratio of 1.17.

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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Earnings History and Estimates for MRC Global (NYSE:MRC)

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