Encore Wire Co. (NASDAQ:WIRE) declared a quarterly dividend on Thursday, May 14th, Zacks reports. Stockholders of record on Thursday, July 2nd will be given a dividend of 0.02 per share by the electronics maker on Friday, July 17th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Wednesday, July 1st.
Encore Wire has a dividend payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Encore Wire to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 3.5%.
Shares of WIRE opened at $48.57 on Tuesday. The company has a market cap of $942.47 million, a price-to-earnings ratio of 16.08 and a beta of 1.20. Encore Wire has a twelve month low of $38.01 and a twelve month high of $62.08. The company has a 50 day moving average of $47.16 and a two-hundred day moving average of $49.84.
Encore Wire (NASDAQ:WIRE) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.41. The company had revenue of $302.79 million during the quarter, compared to the consensus estimate of $297.48 million. Encore Wire had a net margin of 5.01% and a return on equity of 8.23%. Encore Wire’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. As a group, research analysts anticipate that Encore Wire will post 2.93 earnings per share for the current fiscal year.
A number of research firms have issued reports on WIRE. Zacks Investment Research cut shares of Encore Wire from a “buy” rating to a “hold” rating in a report on Monday, May 4th. BidaskClub cut shares of Encore Wire from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. ValuEngine cut shares of Encore Wire from a “hold” rating to a “sell” rating in a report on Monday, May 18th. Finally, DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $56.00 in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.00.
Encore Wire Company Profile
Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2, metal-clad, and armored cables for use primarily as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; and other types of wire products.
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