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

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MRC Global (MRC - Free Report) closed at $8.88 in the latest trading session, marking a +1.83% move from the prior day. This move outpaced the S&P 500's daily gain of 0.89%. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq lost 0.68%.

Prior to today's trading, shares of the energy products distributor had lost 24.17% over the past month. This has lagged the Industrial Products sector's loss of 9.39% and the S&P 500's loss of 3.9% in that time.

Wall Street will be looking for positivity from MRC Global as it approaches its next earnings report date. On that day, MRC Global is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 76.47%. Meanwhile, our latest consensus estimate is calling for revenue of $860.6 million, up 15.98% from the prior-year quarter.

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. 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. Within the past 30 days, our consensus EPS projection has moved 2.37% lower. MRC Global currently has a Zacks Rank of #3 (Hold).

Investors should also note MRC Global's current valuation metrics, including its Forward P/E ratio of 5.53. This valuation marks a discount compared to its industry's average Forward P/E of 12.25.

The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 11, putting 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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