Encore Wire closed the most recent trading day at $167.04, moving +0.62% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Heading into today, shares of the copper wire maker had gained 0.63% over the past month, outpacing the Industrial Products sector's loss of 2.27% and the S&P 500's loss of 0.73% 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 $4.66 per share. This would mark a year-over-year decline of 53.26%.
Any recent changes to analyst estimates for Encore Wire should also be noted by investors. These revisions help to show the ever-changing nature of near-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. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 7.78. For comparison, its industry has an average Forward P/E of 7.78, which means Encore Wire is trading at a no noticeable deviation to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Encore Wire (WIRE) Gains But Lags Market: What You Should Know
Encore Wire closed the most recent trading day at $167.04, moving +0.62% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Heading into today, shares of the copper wire maker had gained 0.63% over the past month, outpacing the Industrial Products sector's loss of 2.27% and the S&P 500's loss of 0.73% 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 $4.66 per share. This would mark a year-over-year decline of 53.26%.
Any recent changes to analyst estimates for Encore Wire should also be noted by investors. These revisions help to show the ever-changing nature of near-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. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 7.78. For comparison, its industry has an average Forward P/E of 7.78, which means Encore Wire is trading at a no noticeable deviation to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.