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Encore Wire (WIRE) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $191.29, marking a +0.66% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
Prior to today's trading, shares of the copper wire maker had gained 13.84% over the past month. This has outpaced the Industrial Products sector's loss of 1.93% and the S&P 500's loss of 2.1% in that time.
The investment community will be closely monitoring the performance of Encore Wire in its forthcoming earnings report. It is anticipated that the company will report an EPS of $4.66, marking a 53.26% fall compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Encore Wire. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Encore Wire holds a Zacks Rank of #3 (Hold).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 8.9. This denotes no noticeable deviation relative to the industry's average Forward P/E of 8.9.
The Wire and Cable Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 108, positioning it in the top 43% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Encore Wire (WIRE) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $191.29, marking a +0.66% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
Prior to today's trading, shares of the copper wire maker had gained 13.84% over the past month. This has outpaced the Industrial Products sector's loss of 1.93% and the S&P 500's loss of 2.1% in that time.
The investment community will be closely monitoring the performance of Encore Wire in its forthcoming earnings report. It is anticipated that the company will report an EPS of $4.66, marking a 53.26% fall compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Encore Wire. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Encore Wire holds a Zacks Rank of #3 (Hold).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 8.9. This denotes no noticeable deviation relative to the industry's average Forward P/E of 8.9.
The Wire and Cable Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 108, positioning it in the top 43% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.