We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Encore Wire (WIRE) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Encore Wire (WIRE - Free Report) closed the most recent trading day at $118.85, moving +0.92% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.02%.
Coming into today, shares of the copper wire maker had lost 11.29% in the past month. In that same time, the Industrial Products sector lost 6.56%, while the S&P 500 lost 7.95%.
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 $4.63 per share, which would represent a year-over-year decline of 45.59%.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 4.38. This represents a discount compared to its industry's average Forward P/E of 7.62.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 2, putting it in the top 1% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Encore Wire (WIRE) Outpaces Stock Market Gains: What You Should Know
Encore Wire (WIRE - Free Report) closed the most recent trading day at $118.85, moving +0.92% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.02%.
Coming into today, shares of the copper wire maker had lost 11.29% in the past month. In that same time, the Industrial Products sector lost 6.56%, while the S&P 500 lost 7.95%.
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 $4.63 per share, which would represent a year-over-year decline of 45.59%.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 4.38. This represents a discount compared to its industry's average Forward P/E of 7.62.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 2, putting it in the top 1% 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.