MRC Global (NYSE:MRC) Posts Quarterly Earnings Results, Hits Estimates

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

MRC Global Stock Up 3.1 %

Shares of NYSE MRC opened at $11.45 on Friday. The company has a market capitalization of $976.37 million, a P/E ratio of 13.17 and a beta of 1.96. MRC Global has a 52-week low of $9.42 and a 52-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. The company’s 50 day moving average price is $13.16 and its 200-day moving average price is $13.01.

MRC Global declared that its Board of Directors has initiated a share buyback program on Friday, January 3rd that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase programs are often a sign 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.