MRC Global Inc (NYSE:MRC) – Capital One Financial upped their Q1 2018 earnings estimates for MRC Global in a note issued to investors on Friday. Capital One Financial analyst J. Gibney now forecasts that the oil and gas company will earn $0.14 per share for the quarter, up from their prior estimate of $0.12. Capital One Financial also issued estimates for MRC Global’s Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.11 EPS and FY2019 earnings at $0.90 EPS.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.06). MRC Global had a net margin of 1.37% and a return on equity of 3.53%. The company had revenue of $903.00 million for the quarter, compared to analyst estimates of $907.63 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year.
MRC Global (NYSE MRC) opened at $16.73 on Monday. MRC Global has a 12-month low of $14.01 and a 12-month high of $22.20. The stock has a market capitalization of $1,580.00, a P/E ratio of -66.92, a P/E/G ratio of 1.76 and a beta of 1.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.31.
Several institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new stake in shares of MRC Global in the 4th quarter worth $756,000. Luminus Management LLC bought a new stake in shares of MRC Global in the 4th quarter worth $24,348,000. Deutsche Bank AG raised its stake in shares of MRC Global by 86.7% in the 4th quarter. Deutsche Bank AG now owns 706,074 shares of the oil and gas company’s stock worth $11,945,000 after buying an additional 327,880 shares in the last quarter. Clearbridge LLC raised its stake in shares of MRC Global by 10.4% in the 4th quarter. Clearbridge LLC now owns 848,020 shares of the oil and gas company’s stock worth $14,348,000 after buying an additional 79,900 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of MRC Global by 7.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,550,755 shares of the oil and gas company’s stock worth $43,159,000 after buying an additional 174,888 shares in the last quarter. 93.70% of the stock is currently owned by institutional investors.
In other news, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $19.00, for a total value of $3,431,799.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew R. Lane sold 293,154 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.
MRC Global announced that its board has approved a share buyback program on Thursday, November 2nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
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MRC Global Company Profile
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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