MRC Global (NYSE:MRC) Issues Earnings Results

MRC Global (NYSE:MRC) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09, Briefing.com reports. The business had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share.

MRC Global Trading Up 7.1 %

NYSE:MRC traded up $0.83 during mid-day trading on Thursday, reaching $12.55. The company’s stock had a trading volume of 685,007 shares, compared to its average volume of 566,069. MRC Global has a twelve month low of $8.15 and a twelve month high of $13.00. The company’s fifty day simple moving average is $12.10 and its two-hundred day simple moving average is $11.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.48 and a quick ratio of 0.76. The stock has a market cap of $1.06 billion, a P/E ratio of 12.05 and a beta of 2.01.

Analysts Set New Price Targets

Several analysts have recently commented on MRC shares. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of MRC Global in a research report on Wednesday, February 14th. Susquehanna increased their price target on shares of MRC Global from $13.00 to $15.00 and gave the company a “positive” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.33.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.