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Encore Wire (WIRE) Gains But Lags Market: What You Should Know
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Encore Wire (WIRE - Free Report) closed the most recent trading day at $185.33, moving +1.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.44%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 5.21%.
Coming into today, shares of the copper wire maker had lost 7.14% in the past month. In that same time, the Industrial Products sector lost 2.52%, while the S&P 500 gained 2.28%.
Encore Wire will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.44, down 31.66% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 9.25. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 9.25.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% 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) Gains But Lags Market: What You Should Know
Encore Wire (WIRE - Free Report) closed the most recent trading day at $185.33, moving +1.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.44%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 5.21%.
Coming into today, shares of the copper wire maker had lost 7.14% in the past month. In that same time, the Industrial Products sector lost 2.52%, while the S&P 500 gained 2.28%.
Encore Wire will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $5.44, down 31.66% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Encore Wire is holding a Forward P/E ratio of 9.25. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 9.25.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% 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.