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

Encore Wire (NASDAQ:WIRE) released its quarterly earnings data on Tuesday. The electronics maker reported $3.92 EPS for the quarter, topping the consensus estimate 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 business had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. During the same period in the previous year, the firm earned $6.50 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Encore Wire Stock Up 0.8 %

Shares of Encore Wire stock traded up $2.28 on Wednesday, hitting $285.88. 8,190 shares of the company’s stock traded hands, compared to its average volume of 258,543. The stock has a market cap of $4.51 billion, a P/E ratio of 13.35 and a beta of 1.31. The firm’s 50-day moving average is $246.44 and its 200 day moving average is $217.73. Encore Wire has a 52-week low of $138.20 and a 52-week high of $295.90.

Encore Wire Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on WIRE shares. Sidoti reissued a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research note on Tuesday, April 16th. DA Davidson downgraded 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 note on Tuesday, April 16th. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. Finally, StockNews.com downgraded shares of Encore Wire from a “buy” rating to a “hold” rating in a research note 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.