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MRC Global (MRC) Gains But Lags Market: What You Should Know
MRC Global (MRC - Free Report) closed the most recent trading day at $9.50, moving +0.42% from the previous trading session. This move lagged the S&P 500's daily gain of 1.68%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the energy products distributor had lost 29.35% in the past month. In that same time, the Industrial Products sector lost 5.79%, while the S&P 500 lost 6.68%.
MRC Global will be looking to display strength as it nears its next earnings release. In that report, analysts expect MRC Global to post earnings of $0.30 per share. This would mark year-over-year growth of 76.47%. Our most recent consensus estimate is calling for quarterly revenue of $860.6 million, up 15.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.58 per share and revenue of $3.75 billion, which would represent changes of +32.77% and +11.39%, respectively, from the prior year.
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 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.92% lower. MRC Global is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MRC Global has a Forward P/E ratio of 6 right now. Its industry sports an average Forward P/E of 12.54, 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 industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.