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Encore Wire (WIRE) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $116.49, marking a -0.84% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the copper wire maker had gained 2.16% in the past month. In that same time, the Industrial Products sector lost 3.58%, while the S&P 500 lost 4.24%.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release. On that day, Encore Wire is projected to report earnings of $2.38 per share, which would represent year-over-year growth of 19.6%.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate has moved 10.04% higher within the past month. Encore Wire is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 10.94. This valuation marks a discount compared to its industry's average Forward P/E of 11.05.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 41, which puts it in the top 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Encore Wire (WIRE) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $116.49, marking a -0.84% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the copper wire maker had gained 2.16% in the past month. In that same time, the Industrial Products sector lost 3.58%, while the S&P 500 lost 4.24%.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release. On that day, Encore Wire is projected to report earnings of $2.38 per share, which would represent year-over-year growth of 19.6%.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate has moved 10.04% higher within the past month. Encore Wire is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Encore Wire's current valuation metrics, including its Forward P/E ratio of 10.94. This valuation marks a discount compared to its industry's average Forward P/E of 11.05.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 41, which puts it in the top 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.