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MRC Global (MRC) Outpaces Stock Market Gains: What You Should Know

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MRC Global (MRC - Free Report) closed the most recent trading day at $11.69, moving +1.74% from the previous trading session. This change outpaced the S&P 500's 0.1% gain on the day. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.06%.

Prior to today's trading, shares of the energy products distributor had 0% over the past month. This has was narrower than the Industrial Products sector's loss of 2.74% and the S&P 500's loss of 3.6% in that time.

Investors will be hoping for strength from MRC Global as it approaches its next earnings release, which is expected to be February 13, 2023. On that day, MRC Global is projected to report earnings of $0.19 per share, which would represent year-over-year growth of 11.76%. Our most recent consensus estimate is calling for quarterly revenue of $865.45 million, up 26.16% from the year-ago period.

MRC's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $3.36 billion. These results would represent year-over-year changes of +325.93% and +26.01%, respectively.

Any recent changes to analyst estimates for MRC Global should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.53% higher. MRC Global currently has a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that MRC Global has a Forward P/E ratio of 9.99 right now. For comparison, its industry has an average Forward P/E of 13.56, 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 19, putting it in the top 8% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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