MRC Global (MRC) Projected to Post Earnings on Monday

MRC Global (NYSE:MRC) is anticipated to release its earnings data after the market closes on Monday, March 3rd. Analysts expect MRC Global to post earnings of $0.08 per share and revenue of $726.90 million for the quarter.

MRC Global Price Performance

Shares of NYSE:MRC opened at $12.19 on Monday. MRC Global has a 12 month low of $11.09 and a 12 month high of $15.41. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 14.01 and a beta of 1.97. The stock’s 50 day moving average price is $13.51 and its 200 day moving average price is $13.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

MRC Global declared that its board has initiated a stock buyback plan on Friday, January 3rd that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on MRC shares. Susquehanna upped their price target on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. StockNews.com cut MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th.

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.