MRC Global (NYSE:MRC) Posts Quarterly Earnings Results

MRC Global (NYSE:MRC) posted its quarterly earnings results on Tuesday. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. During the same period last year, the firm earned $0.32 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis.

MRC Global Trading Up 10.6 %

Shares of MRC Global stock traded up $1.34 during mid-day trading on Wednesday, hitting $13.94. 905,341 shares of the stock were exchanged, compared to its average volume of 578,555. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 14.78 and a beta of 1.97. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. MRC Global has a twelve month low of $9.77 and a twelve month high of $14.91. The company has a 50-day simple moving average of $12.48 and a 200 day simple moving average of $12.73.

Analyst Ratings Changes

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

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.