MRC Global Inc (NYSE:MRC) – Equities researchers at KeyCorp cut their Q2 2019 earnings estimates for MRC Global in a report released on Sunday, May 5th, according to Zacks Investment Research. KeyCorp analyst S. Barger now expects that the oil and gas company will earn $0.19 per share for the quarter, down from their previous forecast of $0.21. KeyCorp also issued estimates for MRC Global’s Q3 2019 earnings at $0.31 EPS and Q2 2020 earnings at $0.26 EPS.
A number of other brokerages also recently issued reports on MRC. Stephens reiterated a “buy” rating and issued a $22.00 price target on shares of MRC Global in a research note on Wednesday, February 20th. Zacks Investment Research cut shares of MRC Global from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Stifel Nicolaus cut shares of 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. Finally, Jefferies Financial Group started coverage on shares of MRC Global in a report on Thursday, April 25th. They set a “hold” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.44.
MRC Global (NYSE:MRC) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. MRC Global had a net margin of 1.79% and a return on equity of 10.65%. The company had revenue of $970.00 million during the quarter, compared to the consensus estimate of $953.51 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of MRC Global in the 4th quarter valued at $55,000. CX Institutional acquired a new position in shares of MRC Global in the 4th quarter valued at $57,000. Pearl River Capital LLC acquired a new position in shares of MRC Global in the 4th quarter valued at $101,000. Sun Life Financial INC acquired a new position in shares of MRC Global in the 4th quarter valued at $103,000. Finally, MHI Funds LLC increased its holdings in shares of MRC Global by 29.7% in the 1st quarter. MHI Funds LLC now owns 11,666 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 2,669 shares during the period.
In other news, SVP John L. Bowhay sold 15,000 shares of MRC Global stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.13, for a total value of $256,950.00. Following the transaction, the senior vice president now directly owns 70,854 shares of the company’s stock, valued at approximately $1,213,729.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel J. Churay sold 54,479 shares of MRC Global stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $16.83, for a total transaction of $916,881.57. Following the completion of the transaction, the executive vice president now directly owns 82,834 shares in the company, valued at $1,394,096.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,765 shares of company stock worth $1,606,475. 23.10% of the stock is owned by corporate insiders.
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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