MRC Global (NYSE:MRC) Releases Quarterly Earnings Results

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

MRC Global Stock Performance

NYSE:MRC traded up $0.82 during trading hours on Thursday, reaching $12.54. The stock had a trading volume of 646,492 shares, compared to its average volume of 565,602. The stock has a market cap of $1.06 billion, a P/E ratio of 12.05 and a beta of 2.01. The stock has a 50 day simple moving average of $12.10 and a 200 day simple moving average of $11.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.48. MRC Global has a 12-month low of $8.15 and a 12-month high of $13.00.

Wall Street Analyst Weigh In

MRC has been the topic of several research analyst reports. Susquehanna boosted their price objective on MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a research report on Monday, April 8th. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of MRC Global in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.33.

MRC Global Company Profile

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.