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MRC Global (MRC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, MRC Global (MRC - Free Report) closed at $9.30, marking a -1.59% move from the previous day. This move lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Coming into today, shares of the energy products distributor had lost 15.55% in the past month. In that same time, the Industrial Products sector lost 8.68%, while the S&P 500 gained 1.24%.
Investors will be hoping for strength from MRC Global as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of $0.30, up 76.47% from the prior-year quarter. 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 1.61% lower. MRC Global is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that MRC Global has a Forward P/E ratio of 5.99 right now. This represents a discount compared to its industry's average Forward P/E of 12.29.
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 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, MRC Global (MRC - Free Report) closed at $9.30, marking a -1.59% move from the previous day. This move lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Coming into today, shares of the energy products distributor had lost 15.55% in the past month. In that same time, the Industrial Products sector lost 8.68%, while the S&P 500 gained 1.24%.
Investors will be hoping for strength from MRC Global as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of $0.30, up 76.47% from the prior-year quarter. 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 1.61% lower. MRC Global is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that MRC Global has a Forward P/E ratio of 5.99 right now. This represents a discount compared to its industry's average Forward P/E of 12.29.
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 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.