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Encore Wire (WIRE) Stock Moves -1.75%: What You Should Know
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Encore Wire (WIRE - Free Report) closed at $112.99 in the latest trading session, marking a -1.75% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.44%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Prior to today's trading, shares of the copper wire maker had lost 15.78% over the past month. This has lagged the Industrial Products sector's loss of 5.68% and the S&P 500's loss of 3.72% in that time.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release, which is expected to be February 15, 2022. In that report, analysts expect Encore Wire to post earnings of $2.42 per share. This would mark year-over-year growth of 106.84%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is currently a Zacks Rank #3 (Hold).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 11.78. This represents a premium compared to its industry's average Forward P/E of 11.57.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Encore Wire (WIRE) Stock Moves -1.75%: What You Should Know
Encore Wire (WIRE - Free Report) closed at $112.99 in the latest trading session, marking a -1.75% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.44%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Prior to today's trading, shares of the copper wire maker had lost 15.78% over the past month. This has lagged the Industrial Products sector's loss of 5.68% and the S&P 500's loss of 3.72% in that time.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release, which is expected to be February 15, 2022. In that report, analysts expect Encore Wire to post earnings of $2.42 per share. This would mark year-over-year growth of 106.84%.
Investors should also note any recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is currently a Zacks Rank #3 (Hold).
Digging into valuation, Encore Wire currently has a Forward P/E ratio of 11.78. This represents a premium compared to its industry's average Forward P/E of 11.57.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.