Wall Street analysts expect MRC Global Inc (NYSE:MRC) to announce sales of $1.12 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for MRC Global’s earnings, with the lowest sales estimate coming in at $1.10 billion and the highest estimate coming in at $1.14 billion. MRC Global reported sales of $959.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.8%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, October 31st.

On average, analysts expect that MRC Global will report full year sales of $4.26 billion for the current fiscal year, with estimates ranging from $4.23 billion to $4.29 billion. For the next financial year, analysts anticipate that the company will post sales of $4.62 billion per share, with estimates ranging from $4.55 billion to $4.72 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last posted its earnings results on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. MRC Global had a return on equity of 7.00% and a net margin of 1.97%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share.

Several analysts recently issued reports on MRC shares. ValuEngine raised MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Zacks Investment Research cut MRC Global from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 3rd. Stifel Nicolaus raised their target price on MRC Global from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Northcoast Research started coverage on MRC Global in a research note on Tuesday, July 31st. They issued a “buy” rating and a $26.00 target price on the stock. Finally, TheStreet raised MRC Global from a “c+” rating to a “b-” rating in a research note on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. MRC Global currently has an average rating of “Buy” and an average target price of $22.43.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Global X Management Co LLC lifted its holdings in MRC Global by 19.0% in the second quarter. Global X Management Co LLC now owns 18,475 shares of the oil and gas company’s stock worth $400,000 after buying an additional 2,951 shares during the period. Paloma Partners Management Co purchased a new stake in MRC Global in the second quarter worth about $405,000. Point72 Hong Kong Ltd purchased a new stake in MRC Global in the second quarter worth about $217,000. Point72 Asset Management L.P. purchased a new stake in MRC Global in the second quarter worth about $22,417,000. Finally, Luminus Management LLC lifted its holdings in MRC Global by 22.8% in the second quarter. Luminus Management LLC now owns 3,492,137 shares of the oil and gas company’s stock worth $75,674,000 after buying an additional 647,445 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

NYSE MRC opened at $19.26 on Tuesday. The company has a current ratio of 2.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $1.76 billion, a P/E ratio of 649.33, a price-to-earnings-growth ratio of 1.85 and a beta of 1.59. MRC Global has a 1 year low of $14.01 and a 1 year high of $22.98.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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Earnings History and Estimates for MRC Global (NYSE:MRC)

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