Encore Wire Corporation (NASDAQ:WIRE) – Research analysts at DA Davidson decreased their Q3 2017 earnings per share (EPS) estimates for Encore Wire Corporation in a report issued on Thursday. DA Davidson analyst B. Thielman now forecasts that the electronics maker will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.65. DA Davidson also issued estimates for Encore Wire Corporation’s FY2017 earnings at $2.20 EPS.

Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $282.25 million. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share.

WARNING: “DA Davidson Equities Analysts Reduce Earnings Estimates for Encore Wire Corporation (WIRE)” was first published by Daily Political and is the property of of Daily Political. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://www.dailypolitical.com/2017/08/08/da-davidson-equities-analysts-reduce-earnings-estimates-for-encore-wire-corporation-wire.html.

Separately, Zacks Investment Research cut shares of Encore Wire Corporation from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, April 26th.

Encore Wire Corporation (NASDAQ WIRE) opened at 40.30 on Monday. The company has a market capitalization of $836.22 million, a price-to-earnings ratio of 19.95 and a beta of 2.24. The firm’s 50-day moving average price is $43.06 and its 200-day moving average price is $43.76. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Wednesday, July 5th. Encore Wire Corporation’s dividend payout ratio (DPR) is presently 3.98%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank boosted its position in Encore Wire Corporation by 2.9% in the first quarter. Swiss National Bank now owns 32,433 shares of the electronics maker’s stock valued at $1,492,000 after buying an additional 900 shares during the period. BNP Paribas Arbitrage SA boosted its position in Encore Wire Corporation by 3.5% in the first quarter. BNP Paribas Arbitrage SA now owns 4,201 shares of the electronics maker’s stock valued at $193,000 after buying an additional 143 shares during the period. Bank of New York Mellon Corp boosted its position in Encore Wire Corporation by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 294,451 shares of the electronics maker’s stock valued at $13,546,000 after buying an additional 20,720 shares during the period. First Trust Advisors LP boosted its position in Encore Wire Corporation by 21.6% in the first quarter. First Trust Advisors LP now owns 187,711 shares of the electronics maker’s stock valued at $8,635,000 after buying an additional 33,350 shares during the period. Finally, LSV Asset Management bought a new position in Encore Wire Corporation during the first quarter valued at $101,000. Hedge funds and other institutional investors own 90.65% of the company’s stock.

Encore Wire Corporation Company Profile

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

Receive News & Ratings for Encore Wire Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire Corporation and related companies with MarketBeat.com's FREE daily email newsletter.