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

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

Encore Wire Stock Performance

WIRE opened at $283.60 on Wednesday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 13.23 and a beta of 1.31. The business’s fifty day moving average is $246.44 and its two-hundred day moving average is $217.73. Encore Wire has a one year low of $138.20 and a one year high of $295.90.

Encore Wire Dividend Announcement

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

Analyst Ratings Changes

WIRE has been the topic of several analyst reports. DA Davidson downgraded shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price on the stock. in a report on Tuesday, April 16th. Sidoti reiterated a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a research report on Tuesday, April 16th. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Finally, StockNews.com downgraded 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.