MRCGlobal (MRC, Financial) is forecasting an impressive $35 million in adjusted EBITDA for the first quarter, marking a robust start to the year. The company's President and CEO, Rob Saltiel, attributes this performance to higher-than-anticipated activity levels and profit margins.
The significant contribution to this growth comes from MRCGlobal's U.S. segment, which saw a sequential revenue increase fueled by notable gains across different divisions. Specifically, the DIET sector experienced a 13% growth, Gas Utilities grew by 8%, and PTI increased by 6%.
Looking forward, MRCGlobal remains optimistic about continued revenue expansion into the second quarter. The company anticipates a high-single to low-double digit percentage rise in sequential sales, leveraging a U.S. backlog that has surged more than 20% since the year's beginning.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for MRC Global Inc (MRC, Financial) is $15.75 with a high estimate of $17.00 and a low estimate of $13.00. The average target implies an upside of 53.81% from the current price of $10.24. More detailed estimate data can be found on the MRC Global Inc (MRC) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, MRC Global Inc's (MRC, Financial) average brokerage recommendation is currently 1.5, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MRC Global Inc (MRC, Financial) in one year is $11.37, suggesting a upside of 11.04% from the current price of $10.24. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MRC Global Inc (MRC) Summary page.
