MRC Global Inc (NYSE:MRC) – Research analysts at Seaport Global Securities raised their Q1 2019 EPS estimates for MRC Global in a report issued on Tuesday, February 19th. Seaport Global Securities analyst W. Liptak now forecasts that the oil and gas company will post earnings of $0.27 per share for the quarter, up from their previous estimate of $0.21. Seaport Global Securities also issued estimates for MRC Global’s Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $1.02 EPS, Q2 2020 earnings at $0.26 EPS and Q4 2020 earnings at $0.27 EPS.
MRC Global (NYSE:MRC) last announced its earnings results on Thursday, February 14th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). MRC Global had a net margin of 1.77% and a return on equity of 10.41%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year.
Several other research analysts also recently weighed in on the stock. Stephens reissued a “buy” rating and issued a $22.00 target price on shares of MRC Global in a research note on Wednesday. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. ValuEngine raised shares of MRC Global from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Wells Fargo & Co dropped their price objective on shares of MRC Global from $18.00 to $13.00 and set a “market perform” rating for the company in a research note on Friday, December 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 price objective on shares of MRC Global in a research note on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $21.30.
Shares of MRC stock opened at $18.43 on Thursday. MRC Global has a twelve month low of $11.62 and a twelve month high of $22.98. The stock has a market capitalization of $1.54 billion, a P/E ratio of 32.33, a PEG ratio of 1.26 and a beta of 1.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.57 and a quick ratio of 1.23.
In other news, 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 transaction, the insider now owns 34,461 shares of the company’s stock, valued at approximately $647,177.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates purchased a new stake in MRC Global during the second quarter valued at about $552,000. Miller Howard Investments Inc. NY boosted its holdings in shares of MRC Global by 10.4% during the third quarter. Miller Howard Investments Inc. NY now owns 207,789 shares of the oil and gas company’s stock worth $3,900,000 after purchasing an additional 19,557 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of MRC Global by 4.5% during the third quarter. Frontier Capital Management Co. LLC now owns 2,639,459 shares of the oil and gas company’s stock worth $49,543,000 after purchasing an additional 112,591 shares during the period. Ardevora Asset Management LLP boosted its holdings in shares of MRC Global by 6.0% during the third quarter. Ardevora Asset Management LLP now owns 1,842,816 shares of the oil and gas company’s stock worth $34,590,000 after purchasing an additional 103,604 shares during the period. Finally, SignalPoint Asset Management LLC purchased a new stake in shares of MRC Global during the third quarter worth about $518,000. 96.52% of the stock is owned by hedge funds and other institutional investors.
About MRC Global
MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related 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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