Capital One Financial Analysts Increase Earnings Estimates for MRC Global Inc (NYSE:MRC)

MRC Global Inc (NYSE:MRC) – Equities researchers at Capital One Financial upped their Q3 2019 earnings per share estimates for shares of MRC Global in a research report issued to clients and investors on Monday, April 8th, according to Zacks Investment Research. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas company will post earnings per share of $0.25 for the quarter, up from their previous estimate of $0.23. Capital One Financial also issued estimates for MRC Global’s FY2019 earnings at $0.78 EPS and FY2020 earnings at $2.07 EPS.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group assumed coverage on shares of MRC Global in a report on Thursday, April 25th. They set a “hold” rating and a $20.00 target price for the company. Stifel Nicolaus lowered shares of MRC Global from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Tuesday, April 16th. Stephens reaffirmed a “buy” rating and set a $22.00 target price on shares of MRC Global in a report on Wednesday, February 20th. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.44.

Shares of MRC Global stock traded up $1.60 during trading hours on Wednesday, reaching $17.95. 1,854,906 shares of the company’s stock were exchanged, compared to its average volume of 975,917. MRC Global has a 1 year low of $11.62 and a 1 year high of $22.98. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.02 and a beta of 1.93. The company has a quick ratio of 1.17, a current ratio of 2.57 and a debt-to-equity ratio of 0.98.

MRC Global (NYSE:MRC) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. MRC Global had a net margin of 1.77% and a return on equity of 10.41%. The business had revenue of $970.00 million during the quarter, compared to analyst estimates of $953.51 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. South Dakota Investment Council lifted its position in MRC Global by 24.4% in the first quarter. South Dakota Investment Council now owns 438,278 shares of the oil and gas company’s stock valued at $7,661,000 after buying an additional 85,860 shares during the last quarter. Victory Capital Management Inc. acquired a new position in MRC Global in the first quarter valued at about $280,000. Algert Global LLC lifted its position in MRC Global by 190.5% in the first quarter. Algert Global LLC now owns 41,424 shares of the oil and gas company’s stock valued at $724,000 after buying an additional 27,165 shares during the last quarter. Zeke Capital Advisors LLC lifted its position in MRC Global by 42.7% in the first quarter. Zeke Capital Advisors LLC now owns 33,019 shares of the oil and gas company’s stock valued at $577,000 after buying an additional 9,884 shares during the last quarter. Finally, First Midwest Bank Trust Division lifted its position in MRC Global by 78.0% in the first quarter. First Midwest Bank Trust Division now owns 34,563 shares of the oil and gas company’s stock valued at $604,000 after buying an additional 15,149 shares during the last quarter.

In related news, SVP John L. Bowhay sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.13, for a total value of $256,950.00. Following the completion of the sale, the senior vice president now owns 70,854 shares of the company’s stock, valued at $1,213,729.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Grant R. Bates sold 30,500 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $18.78, for a total transaction of $572,790.00. Following the completion of the sale, the insider now directly owns 34,461 shares of the company’s stock, valued at approximately $647,177.58. The disclosure for this sale can be found here. Corporate insiders own 23.10% of the company’s stock.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure 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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Earnings History and Estimates for MRC Global (NYSE:MRC)

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