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MRC Global (MRC) Gains As Market Dips: What You Should Know
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MRC Global (MRC - Free Report) closed the most recent trading day at $11.74, moving +0.34% from the previous trading session. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Prior to today's trading, shares of the energy products distributor had gained 1.83% over the past month. This has outpaced the Industrial Products sector's loss of 3.13% and the S&P 500's loss of 4.4% in that time.
MRC Global will be looking to display strength as it nears its next earnings release, which is expected to be February 13, 2023. The company is expected to report EPS of $0.19, up 11.76% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $866.4 million, up 26.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $3.36 billion, which would represent changes of +325.93% and +26.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MRC Global. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 8.53% higher within the past month. MRC Global is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, MRC Global is currently trading at a Forward P/E ratio of 10.17. 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 industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MRC Global (MRC) Gains As Market Dips: What You Should Know
MRC Global (MRC - Free Report) closed the most recent trading day at $11.74, moving +0.34% from the previous trading session. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Prior to today's trading, shares of the energy products distributor had gained 1.83% over the past month. This has outpaced the Industrial Products sector's loss of 3.13% and the S&P 500's loss of 4.4% in that time.
MRC Global will be looking to display strength as it nears its next earnings release, which is expected to be February 13, 2023. The company is expected to report EPS of $0.19, up 11.76% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $866.4 million, up 26.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $3.36 billion, which would represent changes of +325.93% and +26.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MRC Global. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 8.53% higher within the past month. MRC Global is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, MRC Global is currently trading at a Forward P/E ratio of 10.17. 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 industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.