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Encore Wire (WIRE) Stock Slides as Market Rises: Facts to Know Before You Trade
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The latest trading session saw Encore Wire (WIRE - Free Report) ending at $218.42, denoting a -1.02% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 1.12%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.
Prior to today's trading, shares of the copper wire maker had lost 10.18% over the past month. This has lagged the Industrial Products sector's gain of 4.2% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of Encore Wire in its upcoming earnings disclosure. The company is expected to report EPS of $3.73, down 42.62% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Encore Wire. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 3.96% higher. Currently, Encore Wire is carrying a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Encore Wire has a Forward P/E ratio of 13.36 right now. Its industry sports an average Forward P/E of 14.92, so one might conclude that Encore Wire is trading at a discount comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 13, finds itself in the top 6% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw Encore Wire (WIRE - Free Report) ending at $218.42, denoting a -1.02% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 1.12%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.
Prior to today's trading, shares of the copper wire maker had lost 10.18% over the past month. This has lagged the Industrial Products sector's gain of 4.2% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of Encore Wire in its upcoming earnings disclosure. The company is expected to report EPS of $3.73, down 42.62% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Encore Wire. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 3.96% higher. Currently, Encore Wire is carrying a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Encore Wire has a Forward P/E ratio of 13.36 right now. Its industry sports an average Forward P/E of 14.92, so one might conclude that Encore Wire is trading at a discount comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 13, finds itself in the top 6% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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.