Encore Wire closed the most recent trading day at $146.03, moving +1.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the copper wire maker had gained 14.57% over the past month, outpacing the Industrial Products sector's gain of 2.6% and the S&P 500's gain of 0.1% in that time.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release. In that report, analysts expect Encore Wire to post earnings of $4.15 per share. This would mark a year-over-year decline of 52.95%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Encore Wire is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 7.47. This represents a discount compared to its industry's average Forward P/E of 8.86.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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Encore Wire (WIRE) Outpaces Stock Market Gains: What You Should Know
Encore Wire closed the most recent trading day at $146.03, moving +1.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the copper wire maker had gained 14.57% over the past month, outpacing the Industrial Products sector's gain of 2.6% and the S&P 500's gain of 0.1% in that time.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release. In that report, analysts expect Encore Wire to post earnings of $4.15 per share. This would mark a year-over-year decline of 52.95%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Encore Wire is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 7.47. This represents a discount compared to its industry's average Forward P/E of 8.86.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.