MRC Global (NYSE:MRC) Announces Earnings Results, Beats Estimates By $0.09 EPS

MRC Global (NYSE:MRC) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09, Briefing.com reports. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. The business had revenue of $806.00 million during the quarter, compared to analysts’ expectations of $760.76 million. During the same quarter last year, the company posted $0.32 earnings per share. MRC Global’s quarterly revenue was down 8.9% on a year-over-year basis.

MRC Global Stock Up 8.7 %

MRC stock traded up $1.02 during trading on Thursday, reaching $12.74. 444,411 shares of the stock were exchanged, compared to its average volume of 563,456. The firm’s 50 day moving average is $12.10 and its 200 day moving average is $11.19. MRC Global has a twelve month low of $8.15 and a twelve month high of $13.00. The company has a current ratio of 1.48, a quick ratio of 0.76 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.08 billion, a P/E ratio of 12.05 and a beta of 2.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MRC shares. Susquehanna boosted their price objective on MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a 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 note on Wednesday, February 14th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MRC Global presently has a consensus rating of “Buy” and a consensus 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.