In the latest trading session, Encore Wire closed at $113.37, marking a -0.05% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Coming into today, shares of the copper wire maker had lost 19.78% in the past month. In that same time, the Industrial Products sector lost 11.97%, while the S&P 500 lost 10.4%.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release. On that day, Encore Wire is projected to report earnings of $4.63 per share, which would represent a year-over-year decline of 45.59%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 4.22. For comparison, its industry has an average Forward P/E of 7.09, which means Encore Wire is trading at a discount to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 1, putting it in the top 1% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.
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Encore Wire (WIRE) Stock Moves -0.05%: What You Should Know
In the latest trading session, Encore Wire closed at $113.37, marking a -0.05% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Coming into today, shares of the copper wire maker had lost 19.78% in the past month. In that same time, the Industrial Products sector lost 11.97%, while the S&P 500 lost 10.4%.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release. On that day, Encore Wire is projected to report earnings of $4.63 per share, which would represent a year-over-year decline of 45.59%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 4.22. For comparison, its industry has an average Forward P/E of 7.09, which means Encore Wire is trading at a discount to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 1, putting it in the top 1% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.