MRC Global Inc. (MRC) Expected to Post Quarterly Sales of $974.92 Million
Equities analysts expect MRC Global Inc. (NYSE:MRC) to post sales of $974.92 million for the current quarter, Zacks reports. Eight analysts have provided estimates for MRC Global’s earnings. The lowest sales estimate is $953.60 million and the highest is $989.00 million. MRC Global reported sales of $793.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 22.9%. The business is expected to report its next earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that MRC Global will report full-year sales of $974.92 million for the current financial year, with estimates ranging from $3.64 billion to $3.74 billion. For the next year, analysts anticipate that the business will report sales of $4.15 billion per share, with estimates ranging from $4.06 billion to $4.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MRC Global.
MRC Global (NYSE:MRC) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The company had revenue of $922.00 million for the quarter, compared to analyst estimates of $916.82 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year.
MRC has been the subject of several research reports. Stifel Nicolaus restated a “buy” rating and set a $19.00 price target on shares of MRC Global in a report on Sunday, September 3rd. J P Morgan Chase & Co decreased their price target on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, September 12th. Robert W. Baird restated a “hold” rating and set a $21.00 price target on shares of MRC Global in a report on Sunday, September 10th. Seaport Global Securities cut shares of MRC Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $17.00 in a report on Wednesday, June 21st. Finally, BidaskClub upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. MRC Global has an average rating of “Hold” and an average price target of $21.11.
A number of hedge funds and other institutional investors have recently bought and sold shares of MRC. Ameritas Investment Partners Inc. acquired a new stake in MRC Global in the first quarter valued at approximately $148,000. Envestnet Asset Management Inc. lifted its stake in MRC Global by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 321 shares during the last quarter. Redwood Investments LLC lifted its stake in MRC Global by 24.0% in the second quarter. Redwood Investments LLC now owns 11,450 shares of the oil and gas company’s stock valued at $189,000 after acquiring an additional 2,213 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in MRC Global in the first quarter valued at approximately $202,000. Finally, Laurion Capital Management LP acquired a new stake in MRC Global in the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
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MRC Global (MRC) traded down 0.83% during mid-day trading on Tuesday, hitting $17.86. 143,183 shares of the stock traded hands. The stock has a 50 day moving average price of $16.69 and a 200 day moving average price of $17.41. MRC Global has a 12-month low of $13.68 and a 12-month high of $22.52. The firm’s market cap is $1.69 billion.
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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