Analysts predict that MRC Global Inc (NYSE:MRC) will announce $1.04 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for MRC Global’s earnings, with the lowest sales estimate coming in at $1.03 billion and the highest estimate coming in at $1.06 billion. MRC Global reported sales of $1.08 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 1st.
According to Zacks, analysts expect that MRC Global will report full year sales of $4.16 billion for the current financial year, with estimates ranging from $4.11 billion to $4.21 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.45 billion, with estimates ranging from $4.28 billion to $4.81 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow MRC Global.
MRC Global (NYSE:MRC) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. The business had revenue of $970.00 million for the quarter, compared to analyst estimates of $953.51 million. MRC Global had a return on equity of 10.65% and a net margin of 1.79%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share.
A number of equities analysts have commented on MRC shares. Jefferies Financial Group started coverage on MRC Global in a research note on Thursday, April 25th. They issued a “hold” rating and a $20.00 target price for the company. Stifel Nicolaus downgraded MRC Global from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research note on Tuesday, April 16th. Finally, Stephens restated a “buy” rating and issued a $22.00 target price on shares of MRC Global in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.44.
In other news, EVP Daniel J. Churay sold 25,286 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $17.11, for a total transaction of $432,643.46. Following the completion of the transaction, the executive vice president now directly owns 82,834 shares in the company, valued at $1,417,289.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel J. Churay sold 54,479 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.83, for a total value of $916,881.57. Following the transaction, the executive vice president now owns 82,834 shares of the company’s stock, valued at $1,394,096.22. The disclosure for this sale can be found here. Insiders own 23.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new position in shares of MRC Global during the fourth quarter worth approximately $55,000. Pearl River Capital LLC bought a new stake in MRC Global during the fourth quarter worth approximately $101,000. Sun Life Financial INC bought a new stake in MRC Global during the fourth quarter worth approximately $103,000. MHI Funds LLC raised its holdings in MRC Global by 29.7% during the first quarter. MHI Funds LLC now owns 11,666 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 2,669 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in MRC Global during the fourth quarter worth approximately $144,000.
MRC Global stock traded up $0.40 during midday trading on Monday, hitting $16.05. The stock had a trading volume of 8,418 shares, compared to its average volume of 772,196. The company has a quick ratio of 1.14, a current ratio of 2.54 and a debt-to-equity ratio of 1.35. The firm has a market cap of $1.33 billion, a P/E ratio of 28.15, a P/E/G ratio of 0.91 and a beta of 1.94. MRC Global has a 12 month low of $11.62 and a 12 month high of $22.98.
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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