Encore Wire closed the most recent trading day at $149.31, moving +0.4% from the previous trading session. This move traded in line with S&P 500. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the copper wire maker had gained 6.94% over the past month. This has outpaced the Industrial Products sector's gain of 3.84% and the S&P 500's loss of 0.01% in that time.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. The company is expected to report EPS of $4.61, down 33.29% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Encore Wire. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 9.64. Its industry sports an average Forward P/E of 9.64, so we one might conclude that Encore Wire is trading at a no noticeable deviation comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.
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Encore Wire (WIRE) Stock Moves 0.4%: What You Should Know
Encore Wire closed the most recent trading day at $149.31, moving +0.4% from the previous trading session. This move traded in line with S&P 500. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the copper wire maker had gained 6.94% over the past month. This has outpaced the Industrial Products sector's gain of 3.84% and the S&P 500's loss of 0.01% in that time.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. The company is expected to report EPS of $4.61, down 33.29% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Encore Wire. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 9.64. Its industry sports an average Forward P/E of 9.64, so we one might conclude that Encore Wire is trading at a no noticeable deviation comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.