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Encore Wire (WIRE) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $221.52, marking a -0.19% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.58%.
Heading into today, shares of the copper wire maker had lost 0.65% over the past month, lagging the Industrial Products sector's gain of 5.36% and the S&P 500's gain of 2.94% in that time.
The upcoming earnings release of Encore Wire will be of great interest to investors. It is anticipated that the company will report an EPS of $3.73, marking a 42.62% fall 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 help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.96% increase. As of now, Encore Wire holds a Zacks Rank of #2 (Buy).
Looking at valuation, Encore Wire is presently trading at a Forward P/E ratio of 13.44. For comparison, its industry has an average Forward P/E of 14.89, which means Encore Wire is trading at a discount to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 8, positioning it in the top 4% 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.
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 Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $221.52, marking a -0.19% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.58%.
Heading into today, shares of the copper wire maker had lost 0.65% over the past month, lagging the Industrial Products sector's gain of 5.36% and the S&P 500's gain of 2.94% in that time.
The upcoming earnings release of Encore Wire will be of great interest to investors. It is anticipated that the company will report an EPS of $3.73, marking a 42.62% fall 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 help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.96% increase. As of now, Encore Wire holds a Zacks Rank of #2 (Buy).
Looking at valuation, Encore Wire is presently trading at a Forward P/E ratio of 13.44. For comparison, its industry has an average Forward P/E of 14.89, which means Encore Wire is trading at a discount to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 8, positioning it in the top 4% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.