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) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Encore Wire (WIRE - Free Report) ended the recent trading session at $212, demonstrating a -0.11% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.23%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 1.7%.
Heading into today, shares of the copper wire maker had lost 2.19% over the past month, lagging the Industrial Products sector's loss of 0.81% and the S&P 500's gain of 0.94% in that time.
The investment community will be paying close attention to the earnings performance of Encore Wire in its upcoming release. In that report, analysts expect Encore Wire to post earnings of $4.05 per share. This would mark a year-over-year decline of 51.09%.
It is also important to note the recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Encore Wire is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Encore Wire is currently being traded at a Forward P/E ratio of 13.36. This signifies a discount in comparison to the average Forward P/E of 13.52 for its industry.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 3% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Encore Wire (WIRE) Stock Drops Despite Market Gains: Important Facts to Note
Encore Wire (WIRE - Free Report) ended the recent trading session at $212, demonstrating a -0.11% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.23%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 1.7%.
Heading into today, shares of the copper wire maker had lost 2.19% over the past month, lagging the Industrial Products sector's loss of 0.81% and the S&P 500's gain of 0.94% in that time.
The investment community will be paying close attention to the earnings performance of Encore Wire in its upcoming release. In that report, analysts expect Encore Wire to post earnings of $4.05 per share. This would mark a year-over-year decline of 51.09%.
It is also important to note the recent changes to analyst estimates for Encore Wire. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Encore Wire is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Encore Wire is currently being traded at a Forward P/E ratio of 13.36. This signifies a discount in comparison to the average Forward P/E of 13.52 for its industry.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 3% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.