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MRC Global (MRC) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, MRC Global (MRC - Free Report) closed at $11.17, marking a -1.33% move from the previous day. This change lagged the S&P 500's daily loss of 1.17%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 2.45%.

Heading into today, shares of the energy products distributor had gained 0.18% over the past month, outpacing the Industrial Products sector's loss of 3.07% and the S&P 500's loss of 5.25% 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. In that report, analysts expect MRC Global to post earnings of $0.19 per share. This would mark year-over-year growth of 11.76%. Meanwhile, our latest consensus estimate is calling for revenue of $866.4 million, up 26.3% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for MRC Global. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 remained stagnant. MRC Global is holding a Zacks Rank of #1 (Strong Buy) right now.

Digging into valuation, MRC Global currently has a Forward P/E ratio of 7.16. This represents a discount compared to its industry's average Forward P/E of 12.2.

The Steel - Pipe and Tube industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 12, which puts 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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