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Encore Wire (WIRE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $170.35, marking a -0.84% move from the previous day. This change lagged the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the copper wire maker had gained 25.15% over the past month, outpacing the Industrial Products sector's gain of 8.59% and the S&P 500's gain of 8.32% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release, which is expected to be February 14, 2023. 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%.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 a Zacks Rank #3 (Hold).
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 11.13. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 11.13.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 18% 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.
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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $170.35, marking a -0.84% move from the previous day. This change lagged the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the copper wire maker had gained 25.15% over the past month, outpacing the Industrial Products sector's gain of 8.59% and the S&P 500's gain of 8.32% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release, which is expected to be February 14, 2023. 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%.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 a Zacks Rank #3 (Hold).
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 11.13. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 11.13.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.