MRC Global (NYSE:MRC) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

MRC Global (NYSE:MRC) issued its quarterly earnings data on Tuesday. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03, Briefing.com reports. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The business had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. During the same quarter in the previous year, the company posted $0.32 EPS. MRC Global’s quarterly revenue was down 10.2% compared to the same quarter last year.

MRC Global Stock Up 14.6 %

Shares of NYSE MRC opened at $14.44 on Thursday. MRC Global has a 52-week low of $9.77 and a 52-week high of $14.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. The company’s 50 day moving average price is $12.51 and its 200-day moving average price is $12.75. The company has a market capitalization of $1.23 billion, a P/E ratio of 15.53 and a beta of 1.97.

Analyst Ratings Changes

MRC has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st.

About MRC Global

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.