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MRC Global (MRC) Gains But Lags Market: What You Should Know
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MRC Global (MRC - Free Report) closed the most recent trading day at $9.47, moving +0.11% from the previous trading session. This change lagged the S&P 500's 1.42% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 5.16%.
Prior to today's trading, shares of the energy products distributor had lost 15.54% over the past month. This has lagged the Industrial Products sector's loss of 4.45% and the S&P 500's gain of 0.27% in that time.
Investors will be hoping for strength from MRC Global as it approaches its next earnings release, which is expected to be May 9, 2023. 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.
MRC's full-year Zacks Consensus Estimates are calling for earnings of $1.58 per share and revenue of $3.75 billion. These results would represent year-over-year changes of +32.77% and +11.39%, respectively.
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.
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, 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. The Zacks Consensus EPS estimate has moved 1.92% lower within the past month. 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 13.01, 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 9, putting it in the top 4% 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 Zacks.com.
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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 $9.47, moving +0.11% from the previous trading session. This change lagged the S&P 500's 1.42% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 5.16%.
Prior to today's trading, shares of the energy products distributor had lost 15.54% over the past month. This has lagged the Industrial Products sector's loss of 4.45% and the S&P 500's gain of 0.27% in that time.
Investors will be hoping for strength from MRC Global as it approaches its next earnings release, which is expected to be May 9, 2023. 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.
MRC's full-year Zacks Consensus Estimates are calling for earnings of $1.58 per share and revenue of $3.75 billion. These results would represent year-over-year changes of +32.77% and +11.39%, respectively.
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.
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, 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. The Zacks Consensus EPS estimate has moved 1.92% lower within the past month. 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 13.01, 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 9, putting it in the top 4% 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 Zacks.com.