-$0.11 EPS Expected for MRC Global Inc (NYSE:MRC) This Quarter

Equities research analysts forecast that MRC Global Inc (NYSE:MRC) will announce earnings per share of ($0.11) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for MRC Global’s earnings. The highest EPS estimate is $0.02 and the lowest is ($0.26). MRC Global posted earnings of $0.21 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 152.4%. The business is scheduled to announce its next earnings report after the market closes on Tuesday, July 28th.

On average, analysts expect that MRC Global will report full year earnings of ($0.32) per share for the current financial year, with EPS estimates ranging from ($0.69) to $0.10. For the next year, analysts expect that the business will post earnings of ($0.25) per share, with EPS estimates ranging from ($0.81) to $0.39. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow MRC Global.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Tuesday, April 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.11. MRC Global had a net margin of 0.86% and a return on equity of 8.61%. The company had revenue of $794.00 million for the quarter, compared to analysts’ expectations of $762.31 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. MRC Global’s quarterly revenue was down 18.1% on a year-over-year basis.

MRC has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and issued a $6.50 price objective (down previously from $14.00) on shares of MRC Global in a report on Friday, April 3rd. TheStreet cut shares of MRC Global from a “c-” rating to a “d+” rating in a report on Monday, April 13th. Evercore ISI cut shares of MRC Global to a “hold” rating in a report on Tuesday, March 17th. Susquehanna Bancshares increased their price target on shares of MRC Global from $6.00 to $8.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus upgraded shares of MRC Global from a “hold” rating to a “buy” rating and cut their price target for the company from $12.00 to $7.00 in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.19.

MRC traded up $0.20 during midday trading on Monday, reaching $5.79. The company’s stock had a trading volume of 1,066,928 shares, compared to its average volume of 982,583. The firm has a market capitalization of $458.35 million, a price-to-earnings ratio of 96.52 and a beta of 2.33. The company has a current ratio of 2.35, a quick ratio of 1.02 and a debt-to-equity ratio of 1.10. MRC Global has a 1 year low of $3.31 and a 1 year high of $17.67. The stock’s 50-day moving average is $5.33 and its 200-day moving average is $8.77.

In other news, CAO Elton Ray Bond acquired 13,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $3.52 per share, for a total transaction of $45,760.00. Following the transaction, the chief accounting officer now directly owns 94,774 shares of the company’s stock, valued at $333,604.48. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rhys J. Best acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $3.96 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the director now directly owns 104,689 shares in the company, valued at $414,568.44. The disclosure for this purchase can be found here. Insiders acquired 76,050 shares of company stock worth $291,359 over the last quarter. Insiders own 23.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in MRC. Nisa Investment Advisors LLC raised its position in shares of MRC Global by 2,560.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 13,300 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 12,800 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of MRC Global during the 4th quarter valued at $67,000. Public Employees Retirement Association of Colorado raised its position in shares of MRC Global by 143.2% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 17,240 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 10,151 shares during the period. Sciencast Management LP bought a new stake in shares of MRC Global during the 1st quarter valued at $79,000. Finally, Arizona State Retirement System bought a new stake in shares of MRC Global during the 1st quarter valued at $82,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.

About MRC Global

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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