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

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MRC Global (MRC) closed at $9.48 in the latest trading session, marking a -0.94% move from the prior day. This change lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 3.69%.

Prior to today's trading, shares of the energy products distributor had gained 2.68% over the past month. This has lagged the Industrial Products sector's gain of 3.46% and outpaced the S&P 500's loss of 2.26% in that time.

MRC will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2021. The company is expected to report EPS of -$0.10, down 350% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $565.62 million, down 28.76% from the prior-year quarter.

MRC's full-year Zacks Consensus Estimates are calling for earnings of -$0.02 per share and revenue of $2.45 billion. These results would represent year-over-year changes of +91.67% and -4.14%, respectively.

It is also important to note the recent changes to analyst estimates for MRC. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

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. The Zacks Consensus EPS estimate has moved 77.56% higher within the past month. MRC is currently a Zacks Rank #3 (Hold).

The Steel - Pipe and Tube industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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