Encore Wire (NASDAQ:WIRE) Receives “Market Perform” Rating from CJS Securities

CJS Securities reiterated their market perform rating on shares of Encore Wire (NASDAQ:WIRE) in a report published on Friday morning, Benzinga reports.

WIRE has been the topic of a number of other reports. Sidoti reissued a neutral rating and issued a $290.00 price objective on shares of Encore Wire in a research note on Tuesday, April 16th. DA Davidson downgraded Encore Wire from a buy rating to a neutral rating and set a $295.00 price objective on the stock. in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded Encore Wire from a buy rating to a hold rating in a research note on Friday, March 22nd.

Encore Wire Trading Down 0.9 %

NASDAQ WIRE opened at $284.40 on Friday. The business’s 50-day moving average price is $244.75 and its two-hundred day moving average price is $215.98. Encore Wire has a 12 month low of $138.20 and a 12 month high of $295.90. The firm has a market capitalization of $4.49 billion, a PE ratio of 13.27 and a beta of 1.31.

Encore Wire (NASDAQ:WIRE) last released its quarterly earnings results on Wednesday, February 14th. The electronics maker reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.05. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. The firm had revenue of $633.78 million for the quarter, compared to analyst estimates of $601.48 million. During the same quarter in the previous year, the company posted $8.28 EPS. The business’s revenue was down 8.7% on a year-over-year basis. As a group, analysts forecast that Encore Wire will post 21.23 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after buying an additional 83 shares during the period. Dark Forest Capital Management LP acquired a new position in Encore Wire during the 1st quarter worth approximately $66,000. IFP Advisors Inc raised its stake in Encore Wire by 231.5% during the 2nd quarter. IFP Advisors Inc now owns 358 shares of the electronics maker’s stock worth $67,000 after buying an additional 250 shares during the period. Quest Partners LLC acquired a new position in Encore Wire during the 4th quarter worth approximately $80,000. Finally, Advisory Services Network LLC acquired a new position in Encore Wire during the 4th quarter worth approximately $88,000. 99.82% of the stock is owned by institutional investors and hedge funds.

About Encore Wire

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.