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Encore Wire (WIRE) Stock Moves -0.01%: What You Should Know

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Encore Wire (WIRE - Free Report) closed at $125.01 in the latest trading session, marking a -0.01% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.54%, and the tech-heavy Nasdaq gained 0.15%.

Heading into today, shares of the copper wire maker had gained 1.27% over the past month, outpacing the Industrial Products sector's loss of 0.95% and the S&P 500's gain of 0.32% in that time.

Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. In that report, analysts expect Encore Wire to post earnings of $4.15 per share. This would mark a year-over-year decline of 52.95%.

It is also important to note the recent changes to analyst estimates for Encore Wire. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 78.58% higher within the past month. Encore Wire currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Encore Wire currently has a Forward P/E ratio of 6.52. This represents a discount compared to its industry's average Forward P/E of 8.36.

The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% 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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