MRC Global (NYSE:MRC) Issues Earnings Results, Misses Expectations By $0.01 EPS

MRC Global (NYSE:MRC) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Morningstar.com reports. The business had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. MRC Global had a return on equity of 10.65% and a net margin of 1.79%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS.

Shares of NYSE:MRC opened at $14.63 on Friday. MRC Global has a 1-year low of $11.62 and a 1-year high of $22.12. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.54 and a quick ratio of 1.14. The firm’s fifty day moving average is $16.13. The company has a market capitalization of $1.29 billion, a P/E ratio of 25.67, a PEG ratio of 0.89 and a beta of 1.98.

Several brokerages have commented on MRC. ValuEngine lowered MRC Global from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Stifel Nicolaus lowered MRC Global from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group began coverage on MRC Global in a research report on Thursday, April 25th. They set a “hold” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.88.

In other news, EVP Daniel J. Churay sold 25,286 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $17.11, for a total transaction of $432,643.46. Following the completion of the transaction, the executive vice president now directly owns 82,834 shares in the company, valued at $1,417,289.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel J. Churay sold 54,479 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 82,834 shares of the company’s stock, valued at $1,394,096.22. The disclosure for this sale can be found here. 23.10% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. FMR LLC increased its holdings in shares of MRC Global by 34.4% during the fourth quarter. FMR LLC now owns 9,328,043 shares of the oil and gas company’s stock valued at $114,081,000 after acquiring an additional 2,388,926 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of MRC Global by 0.9% during the first quarter. Clearbridge Investments LLC now owns 4,296,419 shares of the oil and gas company’s stock valued at $75,101,000 after acquiring an additional 37,979 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of MRC Global by 22.7% during the fourth quarter. Deutsche Bank AG now owns 1,082,992 shares of the oil and gas company’s stock valued at $13,244,000 after acquiring an additional 200,431 shares in the last quarter. Norges Bank bought a new position in shares of MRC Global during the fourth quarter valued at $12,704,000. Finally, Geode Capital Management LLC increased its holdings in shares of MRC Global by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 954,979 shares of the oil and gas company’s stock valued at $11,679,000 after acquiring an additional 108,003 shares in the last quarter.

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 for MRC Global (NYSE:MRC)

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