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MRC Global (MRC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, MRC Global (MRC - Free Report) closed at $13.34, marking a -1.91% move from the previous day. This change lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 9.7%.
Heading into today, shares of the energy products distributor had gained 21.43% over the past month, outpacing the Industrial Products sector's gain of 6.58% and the S&P 500's gain of 6.27% 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. In that report, analysts expect MRC Global to post earnings of $0.23 per share. This would mark year-over-year growth of 35.29%. Meanwhile, our latest consensus estimate is calling for revenue of $872.18 million, up 27.14% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. MRC Global is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, MRC Global currently has a Forward P/E ratio of 8.46. This represents a discount compared to its industry's average Forward P/E of 14.24.
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow MRC in the coming trading sessions, be sure to utilize Zacks.com.
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MRC Global (MRC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, MRC Global (MRC - Free Report) closed at $13.34, marking a -1.91% move from the previous day. This change lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 9.7%.
Heading into today, shares of the energy products distributor had gained 21.43% over the past month, outpacing the Industrial Products sector's gain of 6.58% and the S&P 500's gain of 6.27% 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. In that report, analysts expect MRC Global to post earnings of $0.23 per share. This would mark year-over-year growth of 35.29%. Meanwhile, our latest consensus estimate is calling for revenue of $872.18 million, up 27.14% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. MRC Global is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, MRC Global currently has a Forward P/E ratio of 8.46. This represents a discount compared to its industry's average Forward P/E of 14.24.
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow MRC in the coming trading sessions, be sure to utilize Zacks.com.