Encore Wire (NASDAQ:WIRE) Issues Earnings Results, Beats Estimates By $0.27 EPS

Encore Wire (NASDAQ:WIRE) issued its 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 net margin of 14.50% and a return on equity of 20.92%. The firm had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. During the same quarter last year, the business posted $6.50 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis.

Encore Wire Trading Up 0.7 %

NASDAQ WIRE traded up $2.01 during trading hours on Wednesday, hitting $285.61. 14,351 shares of the company’s stock were exchanged, compared to its average volume of 258,592. The firm has a market cap of $4.51 billion, a price-to-earnings 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. The stock has a 50-day simple moving average of $246.44 and a 200 day simple moving average of $217.73.

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%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WIRE. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Sidoti reiterated a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th. DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target for the company. in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of Encore Wire from a “buy” rating to a “hold” rating in a report on Friday, March 22nd.

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.