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

MRC Global (NYSE:MRC) issued its quarterly earnings results on Friday. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08, reports. The firm 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 revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share.

MRC Global Trading Up 3.1 %

MRC opened at $11.45 on Friday. The firm has a market capitalization of $976.37 million, a price-to-earnings ratio of 13.17 and a beta of 1.96. The company’s 50 day simple moving average is $13.16 and its two-hundred day simple moving average is $13.01. MRC Global has a 1-year low of $9.42 and a 1-year high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

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

About MRC Global

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.