MRC Global (NYSE:MRC) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

MRC Global (NYSE:MRC) issued its quarterly earnings data on Tuesday. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07, Zacks reports. The business had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share.

MRC Global Stock Down 0.8 %

Shares of MRC traded down $0.10 during midday trading on Friday, reaching $11.98. 702,027 shares of the stock were exchanged, compared to its average volume of 623,645. MRC Global has a 12-month low of $8.90 and a 12-month high of $14.91. The firm has a 50 day simple moving average of $13.11 and a 200-day simple moving average of $12.41. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 13.93 and a beta of 2.00.

Insider Activity at MRC Global

In related news, Director Leonard M. Anthony sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $551,200.00. Following the transaction, the director now directly owns 101,120 shares of the company’s stock, valued at approximately $1,393,433.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Grant R. Bates sold 35,000 shares of MRC Global stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $13.57, for a total transaction of $474,950.00. Following the sale, the insider now owns 110,191 shares of the company’s stock, valued at approximately $1,495,291.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leonard M. Anthony sold 40,000 shares of MRC Global stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $551,200.00. Following the sale, the director now directly owns 101,120 shares in the company, valued at approximately $1,393,433.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,698 shares of company stock valued at $1,242,374. Corporate insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

MRC has been the subject of several research reports. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of MRC Global in a research report on Wednesday, June 26th. StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd.

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.