MRC Global Inc (NYSE:MRC) – Investment analysts at KeyCorp issued their FY2019 earnings per share (EPS) estimates for shares of MRC Global in a note issued to investors on Sunday. KeyCorp analyst S. Barger expects that the oil and gas company will earn $1.01 per share for the year.

Several other research firms have also issued reports on MRC. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of MRC Global in a research report on Tuesday, January 16th. Alembic Global Advisors reissued a “buy” rating on shares of MRC Global in a research report on Friday, January 19th. Susquehanna Bancshares set a $21.00 price target on shares of MRC Global and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research lowered shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, ValuEngine lowered shares of MRC Global from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. MRC Global currently has an average rating of “Hold” and an average target price of $20.67.

MRC Global (NYSE:MRC) traded up $0.10 during midday trading on Tuesday, hitting $16.28. 270,355 shares of the stock traded hands, compared to its average volume of 607,779. MRC Global has a one year low of $14.01 and a one year high of $22.20. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1,512.54, a price-to-earnings ratio of -58.03, a P/E/G ratio of 1.69 and a beta of 1.56.

MRC Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 2nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

In related news, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew R. Lane sold 293,154 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total transaction of $5,569,926.00. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. BP Capital Fund Advisors LLC grew its stake in MRC Global by 39.8% during the fourth quarter. BP Capital Fund Advisors LLC now owns 287,568 shares of the oil and gas company’s stock valued at $4,866,000 after acquiring an additional 81,872 shares in the last quarter. Mackenzie Financial Corp grew its stake in MRC Global by 10.0% during the fourth quarter. Mackenzie Financial Corp now owns 976,000 shares of the oil and gas company’s stock valued at $16,514,000 after acquiring an additional 89,000 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in MRC Global by 12.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,250,443 shares of the oil and gas company’s stock valued at $71,917,000 after acquiring an additional 468,457 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in MRC Global by 13.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 93,012 shares of the oil and gas company’s stock valued at $1,574,000 after acquiring an additional 10,778 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in MRC Global by 2.3% during the fourth quarter. California Public Employees Retirement System now owns 326,693 shares of the oil and gas company’s stock valued at $5,528,000 after acquiring an additional 7,333 shares in the last quarter. 91.93% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “MRC Global Inc Forecasted to Post FY2019 Earnings of $1.01 Per Share (MRC)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://www.thecerbatgem.com/2018/02/13/mrc-global-inc-forecasted-to-post-fy2019-earnings-of-1-01-per-share-mrc.html.

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.

Receive News & Ratings for MRC Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MRC Global and related companies with MarketBeat.com's FREE daily email newsletter.