MRC Global Inc. (NYSE:MRC) Expected to Post Quarterly Sales of $720.63 Million

Brokerages forecast that MRC Global Inc. (NYSE:MRCGet Rating) will announce $720.63 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for MRC Global’s earnings. The lowest sales estimate is $718.80 million and the highest is $723.00 million. MRC Global posted sales of $609.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.3%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that MRC Global will report full year sales of $3.03 billion for the current year, with estimates ranging from $3.01 billion to $3.08 billion. For the next year, analysts forecast that the business will report sales of $3.31 billion, with estimates ranging from $3.26 billion to $3.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow MRC Global.

MRC Global (NYSE:MRCGet Rating) last posted its quarterly earnings results on Tuesday, February 15th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. MRC Global had a negative net margin of 0.75% and a positive return on equity of 8.33%. The company had revenue of $686.00 million during the quarter, compared to analyst estimates of $686.07 million. During the same period last year, the firm posted ($0.05) EPS.

MRC has been the topic of a number of analyst reports. Zacks Investment Research raised shares of MRC Global from a “hold” rating to a “strong-buy” rating and set a $8.75 price objective on the stock in a research note on Tuesday, January 11th. StockNews.com raised shares of MRC Global from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, TheStreet raised shares of MRC Global from a “d+” rating to a “c-” rating in a research note on Tuesday, March 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MRC Global presently has an average rating of “Buy” and an average target price of $10.92.

A number of institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in MRC Global in the 1st quarter valued at $31,000. Royal Bank of Canada lifted its holdings in MRC Global by 66.8% in the 3rd quarter. Royal Bank of Canada now owns 10,323 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 4,133 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in MRC Global by 16.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,578 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 1,780 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in MRC Global in the 3rd quarter valued at $118,000. Finally, ProShare Advisors LLC raised its holdings in shares of MRC Global by 70.5% during the 4th quarter. ProShare Advisors LLC now owns 17,590 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 7,272 shares during the period. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MRC opened at $12.08 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -26.26 and a beta of 2.03. MRC Global has a 12 month low of $6.38 and a 12 month high of $13.44. The firm’s 50 day simple moving average is $11.79 and its 200-day simple moving average is $9.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.06 and a quick ratio of 1.02.

About MRC Global (Get Rating)

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. 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, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

See Also

Get a free copy of the Zacks research report on MRC Global (MRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MRC Global (NYSE:MRC)

Receive News & Ratings for MRC Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global and related companies with MarketBeat.com's FREE daily email newsletter.