Valuations for the group are currently more in line with historical averages following share price recovery from sharp declines early in 2020 due to macroeconomic uncertainty from numerous headwinds, including the still-evolving total impact of Covid-19. The industry consists largely of companies that produce electric cables and wires, electrical equipment, transformers, motors and generators, wiring devices, power supply systems, fuel cells, lighting, and solar power systems. Our fundamental outlook for the Electrical Components & Equipment industry remains neutral. Encore Wire Corp does not currently pay a dividend. Analysts expect adjusted earnings to reach $21.365 per share for the current fiscal year. Year-over-year quarterly sales growth most recently was -24.1%. Encore Wire Corp’s trailing 12-month revenue is $2.8 billion with a 20.7% profit margin. Read on to find out how ( WIRE) grades on certain investment factors and determine whether it meets your investment needs.Īs of August 16, 2023, Encore Wire Corp had a $2.8 billion market capitalization, putting it in the 75th percentile of companies in the Electrical Components & Equipment industry.Ĭurrently, Encore Wire Corp’s price-earnings ratio is 5.2. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.Learn more about whether Encore Wire Corp is a good stock to buy or sell based on recent news as well as its key financial metrics. The Wire and Cable Products industry is part of the Industrial Products sector. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.11. In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 8.11. Encore Wire is currently a Zacks Rank #2 (Buy). Within the past 30 days, our consensus EPS projection remained stagnant. 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. 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. Our research shows that these estimate changes are directly correlated with near-term stock prices. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. These revisions typically reflect the latest short-term business trends, which can change frequently. It is also important to note the recent changes to analyst estimates for Encore Wire. The company is expected to report EPS of $6.55, down 38.84% from the prior-year quarter. Wall Street will be looking for positivity from Encore Wire as it approaches its next earnings report date. This has outpaced the Industrial Products sector's gain of 6.44% and the S&P 500's gain of 5.41% in that time. Prior to today's trading, shares of the copper wire maker had gained 11.6% over the past month. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%. The stock lagged the S&P 500's daily gain of 0.69%. Encore Wire (WIRE) closed the most recent trading day at $185.54, moving +0.2% from the previous trading session.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |