MRC Global Inc (MRC) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $-0.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.13. The company posted revenue of $783.00 million in the period, compared to analysts expectations of $755.53 million. The company’s revenue was down -39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.
Many Wall Street Analysts have commented on MRC Global Inc. MRC Global Inc was Downgraded by Longbow to ” Neutral” on Feb 25, 2016. MRC Global Inc was Downgraded by CapitalOne to ” Equal Weight” on Feb 25, 2016.
MRC Global Inc opened for trading at $13.71 and hit $14.225 on the upside on Wednesday, eventually ending the session at $14.07, with a gain of 3.53% or 0.48 points. The heightened volatility saw the trading volume jump to 18,42,696 shares. Company has a market cap of $1,427 M.
In a different news, on Mar 14, 2016, Gerard Pieter Krans (director) sold 33,750 shares at $14.80 per share price. According to the SEC, on Aug 14, 2015, Scott Alan Hutchinson (SVP – North America Operations) purchased 1,000 shares at $12.42 per share price. On Aug 12, 2015, Rhys J Best (director) purchased 10,000 shares at $12.38 per share price, according to the Form-4 filing with the securities and exchange commission.
MRC Global Inc. is a global industrial distributor of pipe valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction maintenance repair and overhaul of equipment used in extreme operating conditions such as high pressure high/low temperature and high corrosive and abrasive environments. Its product types include valves automation and instrumentation carbon steel fittings and flanges and stainless steel and alloy pipe and fittings line pipe and oil country tubular goods among others. The Company offers around 230000 stock keeping units including an array of PVF oilfield supply automation instrumentation and other general and specialty industry supply products. The Company operates through its U.S. Canadian and International segments. It has operations in over 400 service locations. It provides services such as product testing volume purchasing and warehousing among others.