Encore Wire closed at $115.42 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq gained 0.03%.
Prior to today's trading, shares of the copper wire maker had lost 15.52% over the past month. This has lagged the Industrial Products sector's loss of 0.3% and the S&P 500's loss of 1.81% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release. On that day, Encore Wire is projected to report earnings of $2.42 per share, which would represent year-over-year growth of 106.84%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 11.89. This valuation marks a discount compared to its industry's average Forward P/E of 11.91.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.
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Encore Wire (WIRE) Stock Moves -0.55%: What You Should Know
Encore Wire closed at $115.42 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq gained 0.03%.
Prior to today's trading, shares of the copper wire maker had lost 15.52% over the past month. This has lagged the Industrial Products sector's loss of 0.3% and the S&P 500's loss of 1.81% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release. On that day, Encore Wire is projected to report earnings of $2.42 per share, which would represent year-over-year growth of 106.84%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 11.89. This valuation marks a discount compared to its industry's average Forward P/E of 11.91.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.