MRC Global Inc (MRC) Expected to Post Quarterly Sales of $1.01 Billion

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Brokerages forecast that MRC Global Inc (NYSE:MRC) will announce sales of $1.01 billion for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for MRC Global’s earnings. The highest sales estimate is $1.06 billion and the lowest is $1.00 billion. MRC Global posted sales of $903.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.8%. The firm is expected to report its next earnings report after the market closes on Thursday, February 14th.

According to Zacks, analysts expect that MRC Global will report full year sales of $4.18 billion for the current financial year, with estimates ranging from $4.16 billion to $4.26 billion. For the next financial year, analysts anticipate that the company will report sales of $4.40 billion, with estimates ranging from $4.28 billion to $4.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.12 billion. MRC Global had a net margin of 2.43% and a return on equity of 9.12%. MRC Global’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS.

MRC has been the topic of several recent research reports. TheStreet lowered MRC Global from a “b-” rating to a “c+” rating in a research report on Friday, October 19th. Raymond James lowered their price objective on MRC Global from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Wells Fargo & Co lowered their price objective on MRC Global from $18.00 to $13.00 and set a “market perform” rating on the stock in a research report on Friday, December 21st. Finally, Zacks Investment Research lowered MRC Global from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.20.

MRC Global stock traded down $0.10 during mid-day trading on Thursday, hitting $15.62. The company had a trading volume of 436,100 shares, compared to its average volume of 969,071. The company has a current ratio of 2.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.92. MRC Global has a 12-month low of $11.62 and a 12-month high of $22.98. The firm has a market cap of $1.42 billion, a PE ratio of 521.00, a P/E/G ratio of 0.99 and a beta of 1.71.

A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of MRC Global by 42.4% during the 4th quarter. Rhumbline Advisers now owns 119,259 shares of the oil and gas company’s stock worth $1,459,000 after buying an additional 35,519 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of MRC Global by 37.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 29,111 shares of the oil and gas company’s stock worth $356,000 after buying an additional 7,900 shares during the period. Ardevora Asset Management LLP raised its stake in shares of MRC Global by 35.8% during the 4th quarter. Ardevora Asset Management LLP now owns 2,501,895 shares of the oil and gas company’s stock worth $30,598,000 after buying an additional 659,079 shares during the period. Mcclain Value Management LLC raised its stake in shares of MRC Global by 40.1% during the 4th quarter. Mcclain Value Management LLC now owns 216,990 shares of the oil and gas company’s stock worth $2,654,000 after buying an additional 62,121 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in shares of MRC Global during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 97.88% of the company’s stock.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related 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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