MRC Global (NYSE:MRC) Announces Earnings Results

MRC Global (NYSE:MRC) released its quarterly earnings data on Friday. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08, reports. The business had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS.

MRC Global Stock Up 3.1 %

MRC opened at $11.45 on Friday. The company has a fifty day moving average of $13.16 and a two-hundred day moving average of $13.01. The stock has a market capitalization of $976.37 million, a price-to-earnings ratio of 13.17 and a beta of 1.96. MRC Global has a fifty-two week low of $9.42 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99.

MRC Global announced that its board has approved a stock buyback plan on Friday, January 3rd that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 11% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.