MRC Global Inc (NYSE:MRC) – Research analysts at KeyCorp dropped their Q1 2019 EPS estimates for MRC Global in a research note issued to investors on Monday, April 29th, according to Zacks Investment Research. KeyCorp analyst S. Barger now anticipates that the oil and gas company will post earnings of $0.07 per share for the quarter, down from their prior forecast of $0.11. KeyCorp also issued estimates for MRC Global’s Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.21 EPS, FY2019 earnings at $0.80 EPS, Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.37 EPS, Q4 2020 earnings at $0.25 EPS and FY2020 earnings at $1.01 EPS.
Several other brokerages also recently commented on MRC. Stephens reaffirmed a “buy” rating and set a $22.00 target price on shares of MRC Global in a report on Wednesday, February 20th. Stifel Nicolaus lowered MRC Global from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Tuesday, April 16th. Jefferies Financial Group initiated coverage on MRC Global in a research note on Thursday, April 25th. They set a “hold” rating and a $20.00 target price for the company. Finally, Zacks Investment Research downgraded MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $21.44.
MRC Global (NYSE:MRC) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.06 by $0.08. MRC Global had a return on equity of 10.65% and a net margin of 1.79%. The business had revenue of $970.00 million during the quarter, compared to the consensus estimate of $953.51 million. During the same period in the prior year, the business posted $0.13 earnings per share. MRC Global’s revenue was down 4.0% compared to the same quarter last year.
In other news, EVP Daniel J. Churay sold 25,286 shares of MRC Global stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $17.11, for a total value of $432,643.46. Following the completion of the sale, the executive vice president now directly owns 82,834 shares of the company’s stock, valued at approximately $1,417,289.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Grant R. Bates sold 30,500 shares of MRC Global stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $18.78, for a total value of $572,790.00. Following the completion of the sale, the insider now directly owns 34,461 shares of the company’s stock, valued at $647,177.58. The disclosure for this sale can be found here. Insiders sold a total of 125,265 shares of company stock valued at $2,179,265 over the last three months. Insiders own 23.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRC. BW Gestao de Investimentos Ltda. grew its stake in shares of MRC Global by 1.5% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 64,179 shares of the oil and gas company’s stock worth $785,000 after purchasing an additional 923 shares during the period. Cipher Capital LP grew its stake in shares of MRC Global by 4.7% during the fourth quarter. Cipher Capital LP now owns 40,108 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 1,807 shares during the period. Legal & General Group Plc grew its stake in shares of MRC Global by 2.4% during the fourth quarter. Legal & General Group Plc now owns 94,473 shares of the oil and gas company’s stock worth $1,156,000 after purchasing an additional 2,257 shares during the period. SignalPoint Asset Management LLC grew its stake in shares of MRC Global by 9.4% during the fourth quarter. SignalPoint Asset Management LLC now owns 30,191 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 2,599 shares during the period. Finally, MHI Funds LLC grew its stake in shares of MRC Global by 29.7% during the first quarter. MHI Funds LLC now owns 11,666 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 2,669 shares during the period.
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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