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Encore Wire (WIRE) Exceeds Market Returns: Some Facts to Consider
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The latest trading session saw Encore Wire (WIRE - Free Report) ending at $229.68, denoting a +1.79% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.82%.
Heading into today, shares of the copper wire maker had lost 0.67% over the past month, lagging the Industrial Products sector's gain of 4.51% and the S&P 500's gain of 1.76% 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.
Investors should also pay attention to any latest changes in analyst estimates for Encore Wire. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has shifted 3.96% upward. Encore Wire is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Encore Wire is presently trading at a Forward P/E ratio of 13.66. For comparison, its industry has an average Forward P/E of 14.93, 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. At present, this industry carries a Zacks Industry Rank of 9, placing it within the top 4% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
The latest trading session saw Encore Wire (WIRE - Free Report) ending at $229.68, denoting a +1.79% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.82%.
Heading into today, shares of the copper wire maker had lost 0.67% over the past month, lagging the Industrial Products sector's gain of 4.51% and the S&P 500's gain of 1.76% 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.
Investors should also pay attention to any latest changes in analyst estimates for Encore Wire. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has shifted 3.96% upward. Encore Wire is currently sporting a Zacks Rank of #2 (Buy).
Looking at valuation, Encore Wire is presently trading at a Forward P/E ratio of 13.66. For comparison, its industry has an average Forward P/E of 14.93, 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. At present, this industry carries a Zacks Industry Rank of 9, placing it within the top 4% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.