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Encore Wire (WIRE) Gains But Lags Market: What You Should Know
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Encore Wire (WIRE - Free Report) closed the most recent trading day at $215, moving +0.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.41%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 2.2%.
Heading into today, shares of the copper wire maker had gained 11.95% over the past month, outpacing the Industrial Products sector's gain of 6.16% and the S&P 500's gain of 2.9% in that time.
The investment community will be paying close attention to the earnings performance of Encore Wire in its upcoming release. The company is predicted to post an EPS of $4.05, indicating a 51.09% decline compared to the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Encore Wire. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Encore Wire boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Encore Wire is presently being traded at a Forward P/E ratio of 13.52. This denotes a discount relative to the industry's average Forward P/E of 13.7.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Gains But Lags Market: What You Should Know
Encore Wire (WIRE - Free Report) closed the most recent trading day at $215, moving +0.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.41%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 2.2%.
Heading into today, shares of the copper wire maker had gained 11.95% over the past month, outpacing the Industrial Products sector's gain of 6.16% and the S&P 500's gain of 2.9% in that time.
The investment community will be paying close attention to the earnings performance of Encore Wire in its upcoming release. The company is predicted to post an EPS of $4.05, indicating a 51.09% decline compared to the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Encore Wire. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Encore Wire boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Encore Wire is presently being traded at a Forward P/E ratio of 13.52. This denotes a discount relative to the industry's average Forward P/E of 13.7.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.