MRC Global (NYSE:MRC) Announces Earnings Results

MRC Global (NYSE:MRC) posted its earnings results on Tuesday. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04, Briefing.com reports. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. The firm had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue was down 10.2% compared to the same quarter last year.

MRC Global Stock Performance

MRC stock traded up $1.15 during mid-day trading on Wednesday, hitting $13.75. The company had a trading volume of 690,637 shares, compared to its average volume of 577,556. The firm has a market cap of $1.17 billion, a PE ratio of 13.55 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. MRC Global has a 12 month low of $9.77 and a 12 month high of $14.91. The stock’s fifty day moving average price is $12.48 and its two-hundred day moving average price is $12.73.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com raised shares of MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st.

MRC Global Company Profile

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.