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

Encore Wire (NASDAQ:WIRE) released its quarterly earnings results 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. The firm had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. Encore Wire had a return on equity of 17.88% and a net margin of 12.45%. Encore Wire’s revenue for the quarter 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 Down 0.4 %

Shares of NASDAQ WIRE opened at $282.41 on Thursday. Encore Wire has a twelve month low of $138.20 and a twelve month high of $295.90. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 14.98 and a beta of 1.31. The business has a 50 day simple moving average of $247.44 and a 200-day simple moving average of $218.19.

Encore Wire Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders 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 dividend yield of 0.03%. Encore Wire’s dividend payout ratio (DPR) is 0.42%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. CJS Securities reissued a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Sidoti reaffirmed a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research report on Tuesday, April 16th. StockNews.com began coverage on Encore Wire in a research report on Thursday. They issued a “hold” rating on the stock. Finally, DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price on the stock. in a research report on Tuesday, April 16th.

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.