MRC Global (MRC) Projected to Post Quarterly Earnings on Tuesday

MRC Global (NYSE:MRC) is anticipated to post its quarterly earnings results after the market closes on Tuesday, February 11th. Analysts expect MRC Global to post earnings of $0.17 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

MRC Global Stock Down 4.5 %

Shares of MRC stock opened at $12.78 on Monday. The company has a 50 day simple moving average of $13.66 and a two-hundred day simple moving average of $13.16. The stock has a market cap of $1.09 billion, a P/E ratio of 14.69 and a beta of 1.97. MRC Global has a 12 month low of $10.31 and a 12 month high of $15.41. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MRC shares. Susquehanna lifted their price objective on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of MRC Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Stifel Nicolaus increased their price objective on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th.

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.