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MRC Global (MRC) Gains But Lags Market: What You Should Know

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In the latest trading session, MRC Global (MRC - Free Report) closed at $11.88, marking a +1.19% move from the previous day. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.

Heading into today, shares of the energy products distributor had gained 1.21% over the past month, lagging the Industrial Products sector's gain of 2.7% and the S&P 500's gain of 2.3% 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. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $870.7 million, up 26.92% from the year-ago period.

Investors might also notice recent changes to analyst estimates for MRC Global. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

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 remained stagnant. MRC Global is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that MRC Global has a Forward P/E ratio of 7.31 right now. Its industry sports an average Forward P/E of 12.95, so we one might conclude that MRC Global is trading at a discount comparatively.

The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, 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.

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

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