In the latest trading session, Encore Wire (WIRE - Free Report) closed at $131.92, marking a +0.95% move from the previous day. This move lagged the S&P 500's daily gain of 1.13%. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Prior to today's trading, shares of the copper wire maker had gained 16.12% over the past month. This has outpaced the Industrial Products sector's gain of 3.9% and the S&P 500's gain of 2.65% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.38, up 19.6% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Encore Wire currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 12.17. This represents a premium compared to its industry's average Forward P/E of 11.65.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 15% 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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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $131.92, marking a +0.95% move from the previous day. This move lagged the S&P 500's daily gain of 1.13%. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Prior to today's trading, shares of the copper wire maker had gained 16.12% over the past month. This has outpaced the Industrial Products sector's gain of 3.9% and the S&P 500's gain of 2.65% in that time.
Encore Wire will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.38, up 19.6% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Encore Wire currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 12.17. This represents a premium compared to its industry's average Forward P/E of 11.65.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 15% 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.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
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