Analysts expect that MRC Global Inc. (NYSE:MRC) will report earnings per share of $0.03 for the current quarter, according to Zacks. Six analysts have made estimates for MRC Global’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at ($0.01). MRC Global posted earnings per share of ($0.18) in the same quarter last year, which would indicate a positive year-over-year growth rate of 116.7%. The business is scheduled to announce its next earnings results on Thursday, February 15th.
On average, analysts expect that MRC Global will report full-year earnings of $0.08 per share for the current year, with EPS estimates ranging from $0.03 to $0.15. For the next financial year, analysts expect that the firm will post earnings of $0.62 per share, with EPS estimates ranging from $0.35 to $0.76. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow MRC Global.
A number of research firms have recently weighed in on MRC. Zacks Investment Research upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen and Company reduced their price target on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price target on shares of MRC Global in a research note on Sunday, September 3rd. J P Morgan Chase & Co reduced their price target on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 12th. Finally, Robert W. Baird reiterated a “hold” rating and set a $21.00 target price on shares of MRC Global in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.67.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in MRC Global by 17,937.8% during the 1st quarter. BlackRock Inc. now owns 7,126,027 shares of the oil and gas company’s stock worth $130,618,000 after purchasing an additional 7,086,521 shares during the last quarter. Citadel Advisors LLC raised its holdings in MRC Global by 334.1% during the 2nd quarter. Citadel Advisors LLC now owns 1,913,550 shares of the oil and gas company’s stock worth $31,612,000 after purchasing an additional 1,472,693 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in MRC Global during the 2nd quarter worth approximately $17,961,000. Thompson Siegel & Walmsley LLC bought a new position in MRC Global during the 2nd quarter worth approximately $17,064,000. Finally, Vanguard Group Inc. raised its holdings in MRC Global by 12.5% during the 1st quarter. Vanguard Group Inc. now owns 8,073,947 shares of the oil and gas company’s stock worth $147,994,000 after purchasing an additional 894,581 shares during the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.
MRC Global (MRC) traded down $0.08 on Thursday, hitting $15.77. 1,097,700 shares of the stock were exchanged, compared to its average volume of 710,384. MRC Global has a one year low of $14.78 and a one year high of $22.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.19 and a current ratio of 2.31.
MRC Global announced that its board has approved a stock repurchase program on Thursday, November 2nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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