MRC Global (MRC) Gains As Market Dips: What You Should Know
In the latest trading session, MRC Global (MRC) closed at $9.07, marking a +1.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.31%. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq lost 2.7%.
Prior to today's trading, shares of the energy products distributor had gained 0.56% over the past month. This has lagged the Industrial Products sector's gain of 5.68% and the S&P 500's gain of 1.32% in that time.
Wall Street will be looking for positivity from MRC as it approaches its next earnings report date. In that report, analysts expect MRC to post earnings of -$0.10 per share. This would mark a year-over-year decline of 350%. Meanwhile, our latest consensus estimate is calling for revenue of $565.62 million, down 28.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.02 per share and revenue of $2.45 billion, which would represent changes of +91.67% and -4.14%, respectively, from the prior year.
Any recent changes to analyst estimates for MRC should also be noted by investors. 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.
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 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 81.58% higher. MRC is currently sporting a Zacks Rank of #4 (Sell).
The Steel - Pipe and Tube industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 44% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MRC Global Inc. (MRC) : Free Stock Analysis Report
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