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Encore Wire (WIRE) Stock Moves -0.44%: What You Should Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $214.95, marking a -0.44% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 1.5%.
The the stock of copper wire maker has risen by 10.96% in the past month, leading the Industrial Products sector's gain of 8.32% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Encore Wire in its upcoming release. In that report, analysts expect Encore Wire to post earnings of $4.05 per share. This would mark a year-over-year decline of 51.09%.
It's also important for investors to be aware of any recent modifications to analyst estimates for Encore Wire. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Encore Wire boasts a Zacks Rank of #3 (Hold).
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 10.89.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Encore Wire (WIRE) Stock Moves -0.44%: What You Should Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $214.95, marking a -0.44% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 1.5%.
The the stock of copper wire maker has risen by 10.96% in the past month, leading the Industrial Products sector's gain of 8.32% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Encore Wire in its upcoming release. In that report, analysts expect Encore Wire to post earnings of $4.05 per share. This would mark a year-over-year decline of 51.09%.
It's also important for investors to be aware of any recent modifications to analyst estimates for Encore Wire. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Encore Wire boasts a Zacks Rank of #3 (Hold).
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 10.89.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.