MRC Global (NYSE:MRC) Releases FY19 Earnings Guidance

MRC Global (NYSE:MRC) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.75-0.95 for the period, compared to the Thomson Reuters consensus estimate of $0.86. The company issued revenue guidance of $3.85-4.05 billion, compared to the consensus revenue estimate of $4.13 billion.MRC Global also updated its FY 2019 guidance to $0.75-0.95 EPS.

A number of brokerages recently issued reports on MRC. ValuEngine raised MRC Global from a sell rating to a hold rating in a report on Friday. Jefferies Financial Group began coverage on MRC Global in a report on Thursday, April 25th. They issued a hold rating and a $20.00 price target for the company. Finally, Stifel Nicolaus downgraded MRC Global from a buy rating to a hold rating and set a $20.00 price target for the company. in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. MRC Global has an average rating of Hold and an average target price of $20.88.

Shares of MRC stock traded up $0.48 during trading hours on Friday, hitting $15.11. The stock had a trading volume of 1,972,430 shares, compared to its average volume of 772,942. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 0.84 and a beta of 1.98. MRC Global has a twelve month low of $11.62 and a twelve month high of $22.00. The stock has a 50 day moving average price of $16.10. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.54 and a quick ratio of 1.14.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $984.00 million during the quarter, compared to analyst estimates of $1.04 billion. MRC Global had a net margin of 1.88% and a return on equity of 11.06%. MRC Global’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. On average, research analysts expect that MRC Global will post 0.86 EPS for the current year.

In other news, EVP Daniel J. Churay sold 54,479 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.83, for a total value of $916,881.57. Following the completion of the sale, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at $1,394,096.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel J. Churay sold 25,286 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $17.11, for a total value of $432,643.46. Following the completion of the sale, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at $1,417,289.74. The disclosure for this sale can be found here. 23.10% of the stock is currently owned by corporate insiders.

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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