In the latest trading session, Encore Wire closed at $163.74, marking a -1.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Heading into today, shares of the copper wire maker had lost 2.39% over the past month, lagging the Industrial Products sector's gain of 1.83% and the S&P 500's gain of 1.02% 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 $4.66 per share, which would represent a year-over-year decline of 53.26%.
Investors might also notice recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 7.81. This represents a discount compared to its industry's average Forward P/E of 8.15.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Encore Wire (WIRE) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Encore Wire closed at $163.74, marking a -1.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Heading into today, shares of the copper wire maker had lost 2.39% over the past month, lagging the Industrial Products sector's gain of 1.83% and the S&P 500's gain of 1.02% 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 $4.66 per share, which would represent a year-over-year decline of 53.26%.
Investors might also notice recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 7.81. This represents a discount compared to its industry's average Forward P/E of 8.15.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.