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Encore Wire (WIRE) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $175.78, marking a +1.77% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 0.01%.
Prior to today's trading, shares of the copper wire maker had gained 7.67% over the past month. This has outpaced the Industrial Products sector's loss of 1.37% and the S&P 500's gain of 0.38% 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 $4.66 per share. This would mark a year-over-year decline of 53.26%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 8.09. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.09.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.
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Encore Wire (WIRE) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $175.78, marking a +1.77% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 0.01%.
Prior to today's trading, shares of the copper wire maker had gained 7.67% over the past month. This has outpaced the Industrial Products sector's loss of 1.37% and the S&P 500's gain of 0.38% 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 $4.66 per share. This would mark a year-over-year decline of 53.26%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 8.09. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.09.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
To follow WIRE in the coming trading sessions, be sure to utilize Zacks.com.