First Quarter 2022 Earnings Forecast for MRC Global Inc. Released by Capital One Financial (NYSE:MRC)
MRC Global Inc. (NYSE:MRC) – Equity researchers at Capital One Financial have raised their first-quarter 2022 EPS estimates for MRC Global in a research report delivered to clients and investors on Wednesday, February 16. Capital One Financial analyst L. Lemoine now expects the oil and gas company to earn $0.20 per share for the quarter, up from its previous estimate of $0.09. Capital One Financial also released estimates for MRC Global Q2 2022 profit at $0.29 EPS, Q3 2022 profit at $0.31 EPS, Q4 2022 profit at $0.27 EPS, FY2022 at $1.07 EPS, Q1 2023 profit at $0.28 EPS, Q2 2023 profit at $0.37 EPS, Q3 2023 profit at $0.40 EPS, Q4 2023 profit at $0.36 FY2023 EPS and earnings at $1.41 EPS. MRC Global (NYSE:MRC) last released its quarterly earnings data on Monday, February 14. The oil and gas company reported earnings per share of $0.15 for the quarter, beating the consensus estimate of ($0.02) by $0.17. MRC Global posted a negative net margin of 0.75% and a positive return on equity of 8.22%. During the same period last year, the company posted ($0.05) earnings per share.
CRM has been the subject of a number of other research reports. Susquehanna raised its price target on MRC Global shares from $11.00 to $12.00 and gave the company a “positive” rating in a Wednesday, November 10 research note. Zacks Investment Research upgraded MRC Global shares from a “hold” rating to a “strong-buy” rating and set a price target of $8.75 for the company in a Tuesday, Jan. 11 research note. StockNews.com upgraded MRC Global’s shares from a “hold” rating to a “buy” rating in a Wednesday, Feb. 16 research note. Finally, Susquehanna Bancshares raised its price target on MRC Global shares from $11.00 to $12.00 and gave the stock a “positive” rating in a Wednesday, November 10 research note. One analyst gave the stock a hold rating, four gave the stock a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat, MRC Global currently has an average rating of “Buy” and an average target price of $9.94.
MRC shares opened at $9.64 on Monday. The company has a market capitalization of $796.90 million, a price-earnings ratio of -20.96 and a beta of 2.33. The company’s fifty-day simple moving average is $7.56. The company has a quick ratio of 1.08, a current ratio of 2.15 and a leverage ratio of 0.98. MRC Global has a 12-month low of $6.38 and a 12-month high of $12.21.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atom Investors LP bought a new stock position in MRC Global in Q2 for a value of approximately $648,000. Marshall Wace LLP bought a new stock position in MRC Global in Q3 for a value of approximately $3,958,000. Virtu Financial LLC bought a new stock position in MRC Global in Q2 for a value of approximately $115,000. Bridgeway Capital Management LLC increased its holdings of MRC Global shares by 52.3% in Q2. Bridgeway Capital Management LLC now owns 439,900 shares of the oil and gas company worth $4,135,000 after buying an additional 151,000 shares in the last quarter. Finally, Walleye Capital LLC bought a new stock position in MRC Global in Q2 worth approximately $240,000. Hedge funds and other institutional investors own 86.42% of the company’s shares.
About MRC Global
MRC Global, Inc is a holding company that distributes pipe, valves, fittings and other infrastructure products and services to the energy, industrial and gas utility end markets. It operates through the following segments: United States, Canada and International. The company was founded on November 20, 2006 and is based in Houston, TX.
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