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Encore Wire (WIRE) Stock Dips While Market Gains: Key Facts
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Encore Wire (WIRE - Free Report) closed the most recent trading day at $223.40, moving -1.23% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.23% for the day. Meanwhile, the Dow gained 0.37%, and the Nasdaq, a tech-heavy index, added 0.07%.
Prior to today's trading, shares of the copper wire maker had gained 5.2% over the past month. This has outpaced the Industrial Products sector's gain of 3.29% and lagged the S&P 500's gain of 5.3% in that time.
The upcoming earnings release of Encore Wire will be of great interest to investors. The company's upcoming EPS is projected at $4.05, signifying a 51.09% drop compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Encore Wire currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Encore Wire is at present trading with a Forward P/E ratio of 14.23. This indicates a premium in contrast to its industry's Forward P/E of 14.01.
The Wire and Cable Products industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 20% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Encore Wire (WIRE) Stock Dips While Market Gains: Key Facts
Encore Wire (WIRE - Free Report) closed the most recent trading day at $223.40, moving -1.23% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.23% for the day. Meanwhile, the Dow gained 0.37%, and the Nasdaq, a tech-heavy index, added 0.07%.
Prior to today's trading, shares of the copper wire maker had gained 5.2% over the past month. This has outpaced the Industrial Products sector's gain of 3.29% and lagged the S&P 500's gain of 5.3% in that time.
The upcoming earnings release of Encore Wire will be of great interest to investors. The company's upcoming EPS is projected at $4.05, signifying a 51.09% drop compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Encore Wire. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Encore Wire currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Encore Wire is at present trading with a Forward P/E ratio of 14.23. This indicates a premium in contrast to its industry's Forward P/E of 14.01.
The Wire and Cable Products industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 20% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.