MRC Global (NYSE:MRC) Announces Quarterly Earnings Results

MRC Global (NYSE:MRC) posted its earnings results on Wednesday. The oil and gas company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09, Briefing.com reports. The company had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. MRC Global’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share.

MRC Global Price Performance

NYSE:MRC traded up $0.82 during mid-day trading on Thursday, reaching $12.54. 646,492 shares of the company were exchanged, compared to its average volume of 565,602. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.06 billion, a PE ratio of 12.05 and a beta of 2.01. MRC Global has a 12 month low of $8.15 and a 12 month high of $13.00. The company has a fifty day moving average of $12.10 and a 200 day moving average of $11.19.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Susquehanna raised their price target on shares of MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a research report on Monday, April 8th. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of MRC Global in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.33.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.