Encore Wire closed at $140.99 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Coming into today, shares of the copper wire maker had gained 1.82% in the past month. In that same time, the Industrial Products sector gained 4.95%, while the S&P 500 gained 4.56%.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for Encore Wire. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 6.58. This valuation marks a discount compared to its industry's average Forward P/E of 10.22.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Encore Wire (WIRE) Stock Sinks As Market Gains: What You Should Know
Encore Wire closed at $140.99 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Coming into today, shares of the copper wire maker had gained 1.82% in the past month. In that same time, the Industrial Products sector gained 4.95%, while the S&P 500 gained 4.56%.
Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for Encore Wire. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Encore Wire currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 6.58. This valuation marks a discount compared to its industry's average Forward P/E of 10.22.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.