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Jun 04, 2023

FY2023 EPS Estimates for MRC Global Inc. Cut by KeyCorp (NYSE:MRC)

MRC Global Inc. (NYSE:MRC - Free Report) - Equities researchers at KeyCorp cut their FY2023 EPS estimates for shares of MRC Global in a research note issued to investors on Tuesday, August 8th.

MRC Global Inc. (NYSE:MRC - Free Report) - Equities researchers at KeyCorp cut their FY2023 EPS estimates for shares of MRC Global in a research note issued to investors on Tuesday, August 8th. KeyCorp analyst K. Newman now forecasts that the oil and gas company will post earnings of $1.18 per share for the year, down from their prior forecast of $1.53. The consensus estimate for MRC Global's current full-year earnings is $1.52 per share. KeyCorp also issued estimates for MRC Global's Q4 2023 earnings at $0.29 EPS, Q1 2024 earnings at $0.34 EPS and FY2024 earnings at $1.50 EPS.

MRC has been the subject of several other research reports. Stephens reissued an "overweight" rating and issued a $17.00 price target on shares of MRC Global in a research report on Tuesday. StockNews.com began coverage on shares of MRC Global in a research report on Thursday, May 18th. They issued a "buy" rating on the stock. Stifel Nicolaus decreased their price objective on MRC Global from $17.00 to $15.00 and set a "buy" rating for the company in a report on Monday, April 17th. Susquehanna dropped their target price on MRC Global from $15.00 to $12.00 in a report on Wednesday, May 10th. Finally, TheStreet upgraded MRC Global from a "c+" rating to a "b-" rating in a report on Friday, July 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $14.67.

View Our Latest Stock Report on MRC Global

MRC Global stock traded up $0.06 during mid-day trading on Friday, reaching $9.09. The stock had a trading volume of 15,311 shares, compared to its average volume of 629,200. The firm has a market capitalization of $763.65 million, a PE ratio of 9.71 and a beta of 2.20. MRC Global has a fifty-two week low of $7.03 and a fifty-two week high of $13.90. The stock's 50-day simple moving average is $10.30 and its 200-day simple moving average is $10.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 2.16.

MRC Global (NYSE:MRC - Get Free Report) last issued its earnings results on Monday, August 7th. The oil and gas company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.11). MRC Global had a net margin of 2.92% and a return on equity of 34.08%. The firm had revenue of $871.00 million during the quarter, compared to analyst estimates of $914.58 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its position in MRC Global by 22.5% during the second quarter. Pzena Investment Management LLC now owns 7,162,327 shares of the oil and gas company's stock valued at $72,125,000 after buying an additional 1,316,927 shares during the period. American Century Companies Inc. increased its stake in shares of MRC Global by 69.7% during the 4th quarter. American Century Companies Inc. now owns 2,820,071 shares of the oil and gas company's stock worth $32,656,000 after purchasing an additional 1,158,212 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of MRC Global by 27.2% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,303,827 shares of the oil and gas company's stock worth $51,553,000 after purchasing an additional 1,133,249 shares during the period. Royce & Associates LP lifted its stake in MRC Global by 132.9% in the first quarter. Royce & Associates LP now owns 1,792,108 shares of the oil and gas company's stock valued at $17,419,000 after purchasing an additional 1,022,608 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in MRC Global during the first quarter valued at $10,955,000.

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the gas utility, energy, and industrial end-markets in the United States, Canada, and internationally. 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, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

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