Shares of Encore Wire Corporation (NASDAQ:WIRE) have earned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Encore Wire Corporation’s rating score has improved by 14.2% in the last three months as a result of various analysts’ ratings changes.

Brokers have set a one year consensus price target of $48.25 for the company and are anticipating that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Encore Wire Corporation an industry rank of 109 out of 265 based on the ratings given to its competitors.

Several equities research analysts have commented on WIRE shares. Zacks Investment Research raised shares of Encore Wire Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub downgraded shares of Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, TheStreet downgraded shares of Encore Wire Corporation from a “b” rating to a “c+” rating in a report on Friday, August 4th.

Hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. grew its holdings in shares of Encore Wire Corporation by 80.9% in the second quarter. Prudential Financial Inc. now owns 71,870 shares of the electronics maker’s stock worth $3,069,000 after purchasing an additional 32,140 shares during the last quarter. Swiss National Bank grew its holdings in shares of Encore Wire Corporation by 2.9% in the first quarter. Swiss National Bank now owns 32,433 shares of the electronics maker’s stock worth $1,492,000 after purchasing an additional 900 shares during the last quarter. Heartland Advisors Inc. grew its holdings in shares of Encore Wire Corporation by 9.3% in the second quarter. Heartland Advisors Inc. now owns 293,597 shares of the electronics maker’s stock worth $12,537,000 after purchasing an additional 25,000 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of Encore Wire Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 19,540 shares of the electronics maker’s stock worth $899,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Encore Wire Corporation by 5.3% in the first quarter. Teachers Advisors LLC now owns 271,498 shares of the electronics maker’s stock worth $12,489,000 after purchasing an additional 13,669 shares during the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.

Encore Wire Corporation (NASDAQ WIRE) traded up 0.11% on Thursday, hitting $45.65. 37,843 shares of the company were exchanged. The firm has a market cap of $947.56 million, a price-to-earnings ratio of 22.60 and a beta of 2.25. Encore Wire Corporation has a one year low of $33.70 and a one year high of $49.75. The stock has a 50 day moving average price of $43.30 and a 200 day moving average price of $42.81.

Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.06). The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $282.25 million. Encore Wire Corporation had a return on equity of 7.42% and a net margin of 4.01%. Encore Wire Corporation’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. On average, equities research analysts forecast that Encore Wire Corporation will post $2.20 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, October 5th. Encore Wire Corporation’s dividend payout ratio (DPR) is 3.98%.

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About Encore Wire Corporation

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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