Wall Street brokerages predict that MRC Global Inc (NYSE:MRC) will announce sales of $1.04 billion for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for MRC Global’s earnings. The lowest sales estimate is $1.03 billion and the highest is $1.06 billion. MRC Global reported sales of $1.08 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, August 1st.
On average, analysts expect that MRC Global will report full year sales of $4.17 billion for the current financial year, with estimates ranging from $4.11 billion to $4.21 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.47 billion, with estimates ranging from $4.29 billion to $4.81 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow MRC Global.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.08. MRC Global had a return on equity of 10.65% and a net margin of 1.79%. The firm had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $953.51 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year.
Shares of MRC Global stock traded up $0.26 during trading on Wednesday, hitting $16.67. 22,404 shares of the stock traded hands, compared to its average volume of 906,726. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.14 and a current ratio of 2.54. The company has a market capitalization of $1.40 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.99. The business has a fifty day simple moving average of $15.96. MRC Global has a 52 week low of $11.62 and a 52 week high of $22.98.
In other news, EVP Daniel J. Churay sold 25,286 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $17.11, for a total value of $432,643.46. Following the completion of the transaction, the executive vice president now owns 82,834 shares in the company, valued at approximately $1,417,289.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel J. Churay sold 54,479 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $16.83, for a total value of $916,881.57. Following the completion of the transaction, the executive vice president now owns 82,834 shares of the company’s stock, valued at approximately $1,394,096.22. The disclosure for this sale can be found here. Company insiders own 23.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRC. Investors Research Corp raised its stake in MRC Global by 50.0% during the second quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank purchased a new position in MRC Global during the fourth quarter valued at $144,000. Menta Capital LLC purchased a new position in MRC Global during the fourth quarter valued at $150,000. Hsbc Holdings PLC purchased a new position in MRC Global during the fourth quarter valued at $153,000. Finally, Premier Asset Management LLC purchased a new position in MRC Global during the fourth quarter valued at $197,000.
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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