Encore Wire (NASDAQ:WIRE) Announces Earnings Results, Beats Expectations By $0.27 EPS

Encore Wire (NASDAQ:WIREGet Free Report) released its quarterly earnings results on Tuesday. The electronics maker reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.27, Briefing.com reports. Encore Wire had a return on equity of 17.88% and a net margin of 12.45%. The firm had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. During the same period last year, the firm posted $6.50 EPS. The business’s revenue was down 4.2% on a year-over-year basis.

Encore Wire Price Performance

Shares of Encore Wire stock opened at $282.41 on Thursday. The stock’s 50-day moving average is $247.44 and its 200-day moving average is $218.19. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 14.98 and a beta of 1.31. Encore Wire has a one year low of $138.20 and a one year high of $295.90.

Encore Wire Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.02 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.03%. Encore Wire’s dividend payout ratio (DPR) is 0.42%.

Analyst Ratings Changes

WIRE has been the subject of a number of recent analyst reports. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. StockNews.com began coverage on Encore Wire in a report on Thursday. They set a “hold” rating for the company. DA Davidson cut Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price for the company. in a research note on Tuesday, April 16th. Finally, Sidoti restated a “neutral” rating and issued a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th.

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Encore Wire Company Profile

(Get Free Report)

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.

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Earnings History for Encore Wire (NASDAQ:WIRE)

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