MRC Global Inc (NYSE:MRC) Expected to Announce Quarterly Sales of $950.88 Million

Wall Street analysts expect MRC Global Inc (NYSE:MRC) to announce sales of $950.88 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for MRC Global’s earnings. The lowest sales estimate is $929.00 million and the highest is $1.02 billion. MRC Global posted sales of $1.07 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 11.1%. The business is scheduled to report its next earnings report after the market closes on Thursday, October 31st.

According to Zacks, analysts expect that MRC Global will report full year sales of $3.87 billion for the current financial year, with estimates ranging from $3.77 billion to $4.15 billion. For the next year, analysts forecast that the company will report sales of $3.98 billion, with estimates ranging from $3.77 billion to $4.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last released its earnings results on Thursday, August 1st. The oil and gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). MRC Global had a net margin of 1.88% and a return on equity of 11.23%. The company had revenue of $984.00 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.31 EPS. The company’s revenue was down 9.1% on a year-over-year basis.

A number of research firms have recently weighed in on MRC. TheStreet lowered MRC Global from a “b-” rating to a “c” rating in a research note on Monday, September 16th. Cowen lowered MRC Global from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 12th. Scotiabank lowered MRC Global from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $17.00 to $11.00 in a research report on Friday, September 6th. Raymond James set a $16.00 price target on MRC Global and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Stifel Nicolaus upped their price target on MRC Global from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. MRC Global currently has a consensus rating of “Hold” and an average price target of $16.38.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investors Research Corp raised its position in MRC Global by 50.0% during the 2nd quarter. Investors Research Corp now owns 1,800 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 600 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of MRC Global by 4,119.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,599 shares of the oil and gas company’s stock worth $79,000 after acquiring an additional 4,490 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of MRC Global in the 2nd quarter worth approximately $102,000. Jane Street Group LLC bought a new position in shares of MRC Global in the 2nd quarter worth approximately $179,000. Finally, CWM Advisors LLC bought a new position in shares of MRC Global in the 2nd quarter worth approximately $181,000. 95.51% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE MRC traded up $0.09 during midday trading on Wednesday, reaching $11.57. The company had a trading volume of 789,428 shares, compared to its average volume of 922,099. MRC Global has a one year low of $11.19 and a one year high of $18.99. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 1.34. The firm’s fifty day moving average price is $12.61 and its 200-day moving average price is $15.50. The stock has a market cap of $954.45 million, a PE ratio of 20.30, a price-to-earnings-growth ratio of 0.92 and a beta of 2.07.

MRC Global Company Profile

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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