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MRC Global (MRC) Gains But Lags Market: What You Should Know
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MRC Global (MRC - Free Report) closed the most recent trading day at $12.58, moving +0.72% from the previous trading session. This move lagged the S&P 500's daily gain of 1.1%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Heading into today, shares of the energy products distributor had gained 10.34% over the past month, outpacing the Industrial Products sector's gain of 4.05% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from MRC Global as it approaches its next earnings report date. This is expected to be February 13, 2023. On that day, MRC Global is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 35.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $872.18 million, up 27.14% from the year-ago period.
Any recent changes to analyst estimates for MRC Global should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. MRC Global is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, MRC Global is holding a Forward P/E ratio of 7.77. For comparison, its industry has an average Forward P/E of 13.39, which means MRC Global is trading at a discount to the group.
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MRC in the coming trading sessions, be sure to utilize Zacks.com.
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MRC Global (MRC) Gains But Lags Market: What You Should Know
MRC Global (MRC - Free Report) closed the most recent trading day at $12.58, moving +0.72% from the previous trading session. This move lagged the S&P 500's daily gain of 1.1%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Heading into today, shares of the energy products distributor had gained 10.34% over the past month, outpacing the Industrial Products sector's gain of 4.05% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from MRC Global as it approaches its next earnings report date. This is expected to be February 13, 2023. On that day, MRC Global is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 35.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $872.18 million, up 27.14% from the year-ago period.
Any recent changes to analyst estimates for MRC Global should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. MRC Global is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, MRC Global is holding a Forward P/E ratio of 7.77. For comparison, its industry has an average Forward P/E of 13.39, which means MRC Global is trading at a discount to the group.
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MRC in the coming trading sessions, be sure to utilize Zacks.com.