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

Encore Wire (NASDAQ:WIRE) released its quarterly earnings results on Tuesday. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.65 by $0.27, Briefing.com reports. The business had revenue of $632.66 million during the quarter, compared to the consensus estimate of $579.64 million. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.50 EPS.

Encore Wire Trading Up 0.8 %

WIRE traded up $2.28 on Wednesday, reaching $285.88. The stock had a trading volume of 8,190 shares, compared to its average volume of 258,543. Encore Wire has a fifty-two week low of $138.20 and a fifty-two week high of $295.90. The firm has a 50-day moving average of $246.44 and a 200-day moving average of $217.73. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 13.35 and a beta of 1.31.

Encore Wire Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Sidoti reissued a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. DA Davidson cut Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target for the company. in a report on Tuesday, April 16th. StockNews.com cut Encore Wire from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. 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.