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

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MRC Global (MRC - Free Report) closed at $12.05 in the latest trading session, marking a -0.9% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.

Heading into today, shares of the energy products distributor had gained 2.01% over the past month, lagging the Industrial Products sector's gain of 3.55% and outpacing the S&P 500's loss of 0.23% 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 $0.19 per share, which would represent year-over-year growth of 11.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $866.4 million, up 26.3% from the year-ago period.

Investors should also note any recent changes to analyst estimates for MRC Global. These recent revisions tend to reflect the evolving nature of short-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.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MRC Global currently has a Zacks Rank of #2 (Buy).

Digging into valuation, MRC Global currently has a Forward P/E ratio of 7.7. For comparison, its industry has an average Forward P/E of 12.9, 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 18, 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.

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

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