Encore Wire closed at $131.59 in the latest trading session, marking a -0.24% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.65%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the copper wire maker had gained 4.5% over the past month, outpacing the Industrial Products sector's loss of 10.3% and the S&P 500's loss of 11.07% in that time.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. In that report, analysts expect Encore Wire to post earnings of $4.63 per share. This would mark a year-over-year decline of 45.59%.
Any recent changes to analyst estimates for Encore Wire should also be noted by investors. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 4.91. This represents a discount compared to its industry's average Forward P/E of 7.67.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Encore Wire (WIRE) Stock Moves -0.24%: What You Should Know
Encore Wire closed at $131.59 in the latest trading session, marking a -0.24% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.65%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the copper wire maker had gained 4.5% over the past month, outpacing the Industrial Products sector's loss of 10.3% and the S&P 500's loss of 11.07% in that time.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. In that report, analysts expect Encore Wire to post earnings of $4.63 per share. This would mark a year-over-year decline of 45.59%.
Any recent changes to analyst estimates for Encore Wire should also be noted by investors. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 4.91. This represents a discount compared to its industry's average Forward P/E of 7.67.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.