NEW YORK (TheStreet) -- MRC Global (MRC) shares are climbing 6.9% to $21.60 on Friday after the company beat analysts third quarter earnings estimates today.
The energy industry pipe and valve fitting distributor reported third quarter earnings of $50.1 million, or 54 cents per diluted share when adjusted for non-recurring and severance costs, 8 cents ahead of analysts' expectations of 46 cents per diluted share.
The company generated revenue of $1.62 billion, ahead of the $1.3 billion the company reported during the same period last year, which also beat analysts' third quarter expectations of $1.5 billion.
TheStreet Ratings team rates MRC GLOBAL INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MRC GLOBAL INC (MRC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: MRC Ratings Report
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