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Encore Wire (WIRE) Stock Moves -0.01%: What You Should Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $144.39, marking a -0.01% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Prior to today's trading, shares of the copper wire maker had gained 1.65% over the past month. This has lagged the Industrial Products sector's gain of 4.94% and the S&P 500's gain of 2.18% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release. In that report, analysts expect Encore Wire to post earnings of $4.61 per share. This would mark a year-over-year decline of 33.29%.
Investors might also notice 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. 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, 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 is currently a Zacks Rank #3 (Hold).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 9.36. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.36.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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) Stock Moves -0.01%: What You Should Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $144.39, marking a -0.01% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Prior to today's trading, shares of the copper wire maker had gained 1.65% over the past month. This has lagged the Industrial Products sector's gain of 4.94% and the S&P 500's gain of 2.18% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release. In that report, analysts expect Encore Wire to post earnings of $4.61 per share. This would mark a year-over-year decline of 33.29%.
Investors might also notice 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. 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, 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 is currently a Zacks Rank #3 (Hold).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 9.36. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.36.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.