DA Davidson Equities Analysts Reduce Earnings Estimates for Encore Wire Corporation (WIRE)
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.
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.
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