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Encore Wire (WIRE) Gains But Lags Market: What You Should Know
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In the latest market close, Encore Wire (WIRE - Free Report) reached $229.71, with a +0.01% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.83%, and the tech-heavy Nasdaq gained 0.39%.
Prior to today's trading, shares of the copper wire maker had gained 1.1% over the past month. This has lagged the Industrial Products sector's gain of 5.08% and the S&P 500's gain of 2.97% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Encore Wire in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.73, reflecting a 42.62% decrease from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Encore Wire. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate remained stagnant. At present, Encore Wire boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Encore Wire is at present trading with a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 15.1, 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. At present, this industry carries a Zacks Industry Rank of 9, placing it within the top 4% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Encore Wire (WIRE) Gains But Lags Market: What You Should Know
In the latest market close, Encore Wire (WIRE - Free Report) reached $229.71, with a +0.01% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.83%, and the tech-heavy Nasdaq gained 0.39%.
Prior to today's trading, shares of the copper wire maker had gained 1.1% over the past month. This has lagged the Industrial Products sector's gain of 5.08% and the S&P 500's gain of 2.97% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Encore Wire in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.73, reflecting a 42.62% decrease from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Encore Wire. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate remained stagnant. At present, Encore Wire boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Encore Wire is at present trading with a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 15.1, 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. At present, this industry carries a Zacks Industry Rank of 9, placing it within the top 4% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.