Reasons to Retain MRC Global (MRC) Stock in Your Portfolio
MRC Global Inc. MRC is gaining from multiple tailwinds despite adversities from the high cost of sales (due to raw material cost inflation) and unfavorable foreign currency movements.
This Zacks Rank #3 (Hold) company is benefiting from its focus on customer service, supported by reliable operations and supply-chain management. Cost-control initiatives are also aiding MRC’s top-line growth. The company expects total revenues to increase in double digits year over year in 2023.
MRC’s gas utility sector is benefiting from meter upgrade and pipeline integrity projects as well as other system reliability and environmental activities. The DIET sector is gaining from higher turnaround and maintenance spending by refiners and chemical customers, as well as increased activity associated with LNG projects. The company expects a growing backlog of LNG projects to drive the sector’s revenues in the near term. Increased activity levels in the Permian Basin augur well for the Production and Transmission Infrastructure sector.
MRC Global Inc. Price and Consensus
MRC Global Inc. price-consensus-chart | MRC Global Inc. Quote
MRC Global’s efforts to reward its shareholders through dividend payments and share repurchases are noteworthy. In 2022, the company paid dividends of $24 million to shareholders. The company bought back shares worth $2 million in 2022. In the first quarter of 2023, the company paid dividends of $6 million.
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Ingersoll Rand Inc. IR presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 7.1%. The stock has improved 22.7% in the year-to-date period.
Alamo Group Inc. ALG currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has gained 31.1% in the year-to-date period.
Axon Enterprise AXON sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 18.6% in the year-to-date period.
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Ingersoll Rand Inc. (IR) : Free Stock Analysis Report
Alamo Group, Inc. (ALG) : Free Stock Analysis Report
MRC Global Inc. (MRC) : Free Stock Analysis Report
Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
