MRC Global Inc. (MRC) to Post Q3 2017 Earnings of $0.07 Per Share, Capital One Financial Corporation Forecasts
MRC Global Inc. (NYSE:MRC) – Equities researchers at Capital One Financial Corporation decreased their Q3 2017 earnings per share estimates for shares of MRC Global in a research note issued to investors on Wednesday. Capital One Financial Corporation analyst J. Gibney now forecasts that the oil and gas company will post earnings per share of $0.07 for the quarter, down from their prior estimate of $0.09. Capital One Financial Corporation also issued estimates for MRC Global’s Q4 2017 earnings at $0.03 EPS, FY2017 earnings at $0.11 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.05 EPS and FY2018 earnings at $0.47 EPS.
Several other equities research analysts have also recently issued reports on MRC. KeyCorp restated a “sector weight” rating on shares of MRC Global in a research report on Friday, May 26th. Stifel Nicolaus started coverage on shares of MRC Global in a research report on Tuesday, June 6th. They set a “buy” rating and a $22.00 price objective for the company. BidaskClub upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Seaport Global Securities cut shares of MRC Global from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $17.00 in a research report on Wednesday, June 21st. Finally, ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. MRC Global currently has a consensus rating of “Hold” and a consensus price target of $21.50.
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MRC Global (NYSE MRC) opened at 15.64 on Thursday. The company has a 50-day moving average of $16.19 and a 200-day moving average of $18.03. The company’s market capitalization is $1.48 billion. MRC Global has a 1-year low of $13.50 and a 1-year high of $22.52.
MRC Global (NYSE:MRC) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. MRC Global had a positive return on equity of 0.39% and a negative net margin of 1.40%. The company had revenue of $922 million during the quarter, compared to the consensus estimate of $916.82 million. During the same period in the previous year, the company earned ($0.15) earnings per share. MRC Global’s quarterly revenue was up 23.6% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the company. Hartford Investment Management Co. bought a new position in shares of MRC Global during the first quarter valued at $2,906,000. Mesirow Financial Investment Management Equity Management bought a new position in shares of MRC Global during the first quarter valued at $14,983,000. Strs Ohio raised its position in shares of MRC Global by 2.6% in the first quarter. Strs Ohio now owns 58,200 shares of the oil and gas company’s stock valued at $1,066,000 after buying an additional 1,500 shares during the period. Miller Howard Investments Inc. NY raised its position in shares of MRC Global by 5.5% in the first quarter. Miller Howard Investments Inc. NY now owns 309,586 shares of the oil and gas company’s stock valued at $5,675,000 after buying an additional 16,119 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of MRC Global by 0.3% in the first quarter. Wells Fargo & Company MN now owns 2,228,488 shares of the oil and gas company’s stock valued at $40,848,000 after buying an additional 7,203 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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