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Earnings Estimates Moving Higher for Encore Wire (WIRE): Time to Buy?
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Encore Wire Corporation (WIRE - Free Report) is a low-cost copper electrical building wire and cable manufacturer that could be an interesting play for investors. This is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on WIRE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Encore Wire could be a solid choice for investors.
Current Quarter Estimates for WIRE
In the past 30 days, one estimate has gone higher for Encore Wire while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 40 cents a share 30 days ago, to 65 cents today, a move of 62.5%.
Current Year Estimates for WIRE
Meanwhile, Encore Wire’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.95 per share 30 days ago to $2.55 per share today, an increase of 30.8%.
Bottom Line
The stock has also started to move higher lately, adding 6.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
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Earnings Estimates Moving Higher for Encore Wire (WIRE): Time to Buy?
Encore Wire Corporation (WIRE - Free Report) is a low-cost copper electrical building wire and cable manufacturer that could be an interesting play for investors. This is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on WIRE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Encore Wire could be a solid choice for investors.
Current Quarter Estimates for WIRE
In the past 30 days, one estimate has gone higher for Encore Wire while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 40 cents a share 30 days ago, to 65 cents today, a move of 62.5%.
Current Year Estimates for WIRE
Meanwhile, Encore Wire’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.95 per share 30 days ago to $2.55 per share today, an increase of 30.8%.
Bottom Line
The stock has also started to move higher lately, adding 6.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>