MRC Global Downgraded to Sell - Analyst Blog
21 Março 2013 - 10:10AM
Zacks
Zacks Investment Research
downgraded MRC Global Inc. (MRC) to a Zacks Rank
#4 (Sell) on Mar 19 on a weak earnings outlook for 2013, despite
reporting better- than-expected results in the fourth quarter of
2012.
Why the
Downgrade?
MRC Global has witnessed sharp
downward estimate revisions after guiding for lower than expected
earnings for 2013. MRC expects earnings in the range of $2.10 to
$2.35 per share in 2013, which was below the Zacks Consensus
Estimate of $2.43 at the time of earnings announcement. Although
the guidance was higher compared to the 2012 levels, it missed the
market expectations, and, therefore, most of the estimates were
revised downwards subsequently.
The Zacks Consensus Estimate for
2013 decreased 8.5% to $2.27 per share over the last 30 days, due
to a downward revision of more than 85% of the estimates. For 2014
also, a number of estimates were revised downward over the same
timeframe, sinking the Zacks Consensus Estimate by 3.5% to $2.73
per share.
Moreover, MRC Global’s upstream
segment which experienced a year-over-year decline in the fourth
quarter of 2012 due to the planned slowdown in the Oil Country
Tubular Goods (OCTG) product line is expected to face the same
turbulence in the coming quarters.
Other Stocks to
Consider
The following machinery tools
companies with favorable Zacks Rank are performing well and are
worth considering.
- Valmont Industries
Inc. (VMI) carries a Zacks Rank #1 (Strong Buy)
- Proto Labs Inc.
(PRLB) carries a Zacks Rank #2 (Buy)
- Actuant
Corporation (ATU) carries a Zacks Rank #2 (Buy).
ACTUANT CORP (ATU): Free Stock Analysis Report
MRC GLOBAL INC (MRC): Free Stock Analysis Report
PROTO LABS INC (PRLB): Free Stock Analysis Report
VALMONT INDS (VMI): Free Stock Analysis Report
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