Encore Wire (NASDAQ:WIRE) Issues Earnings Results

Encore Wire (NASDAQ:WIRE) released its quarterly earnings data 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. The firm had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.50 earnings per share.

Encore Wire Trading Up 0.2 %

Shares of WIRE traded up $0.62 during trading hours on Friday, reaching $284.68. The stock had a trading volume of 129,422 shares, compared to its average volume of 262,624. Encore Wire has a 12 month low of $146.36 and a 12 month high of $295.90. The firm has a 50-day simple moving average of $248.36 and a 200 day simple moving average of $218.64. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 15.07 and a beta of 1.31.

Encore Wire Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued 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 was Thursday, April 4th. Encore Wire’s dividend payout ratio is currently 0.42%.

Analyst Ratings Changes

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

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.