Encore Wire (NASDAQ:WIRE) Posts Earnings Results

Encore Wire (NASDAQ:WIRE) released its quarterly earnings results on Tuesday. The electronics maker reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.27, Briefing.com reports. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. The company had revenue of $632.66 million for the quarter, compared to the consensus estimate of $579.64 million. During the same period in the previous year, the firm earned $6.50 EPS. Encore Wire’s revenue was down 4.2% on a year-over-year basis.

Encore Wire Stock Up 0.7 %

Shares of Encore Wire stock traded up $2.01 during trading on Wednesday, hitting $285.61. The stock had a trading volume of 14,351 shares, compared to its average volume of 258,592. The stock has a 50 day simple moving average of $246.44 and a 200 day simple moving average of $217.73. The company has a market capitalization of $4.51 billion, a PE ratio of 13.35 and a beta of 1.31. Encore Wire has a 1 year low of $138.20 and a 1 year high of $295.90.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, April 4th. Encore Wire’s dividend payout ratio (DPR) is currently 0.37%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WIRE shares. DA Davidson downgraded shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target on the stock. in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Encore Wire from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Finally, Sidoti restated a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th.

Encore Wire Company Profile

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. It offers NM-B cables, UF-B cables, THHN/THWN-2, XHHW-2, USE-2, RHH/RHW-2, and other types of wire products, including SEU, SER, photovoltaic, URD, tray cables, metal-clads, and armored cables.