Encore Wire (NASDAQ:WIRE) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Encore Wire (NASDAQ:WIRE) in a research note released on Thursday. The brokerage issued a hold rating on the electronics maker’s stock.

WIRE has been the subject of a number of other research reports. CJS Securities restated a market perform rating on shares of Encore Wire in a report on Friday, April 19th. Sidoti restated a neutral rating and set a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th. Finally, DA Davidson cut shares of Encore Wire from a buy rating to a neutral rating and set a $295.00 price objective for the company. in a report on Tuesday, April 16th.

Encore Wire Trading Up 0.3 %

Shares of NASDAQ WIRE opened at $284.89 on Thursday. Encore Wire has a 1-year low of $146.36 and a 1-year high of $295.90. The company has a market cap of $4.50 billion, a PE ratio of 15.11 and a beta of 1.31. The company has a 50-day moving average of $249.52 and a two-hundred day moving average of $219.73.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, topping the consensus estimate of $3.65 by $0.27. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. The company had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. During the same quarter in the previous year, the company earned $6.50 EPS. Encore Wire’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Encore Wire will post 21.23 earnings per share for the current year.

Encore Wire Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, April 4th. Encore Wire’s payout ratio is currently 0.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in Encore Wire by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 15,414 shares of the electronics maker’s stock valued at $4,051,000 after buying an additional 166 shares in the last quarter. Dakota Wealth Management bought a new position in Encore Wire in the first quarter valued at approximately $1,489,000. Spire Wealth Management lifted its stake in Encore Wire by 42.0% in the first quarter. Spire Wealth Management now owns 142 shares of the electronics maker’s stock valued at $37,000 after buying an additional 42 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Encore Wire by 11.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 5,939 shares of the electronics maker’s stock valued at $1,561,000 after buying an additional 609 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its stake in Encore Wire by 6.5% in the first quarter. Hunter Perkins Capital Management LLC now owns 19,962 shares of the electronics maker’s stock valued at $5,246,000 after buying an additional 1,210 shares in the last quarter. Institutional investors own 99.82% of the company’s stock.

About Encore Wire

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.