Encore Wire (WIRE) Stock Forecast, Price & News

1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Encore Wire in the last year. There are currently 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" WIRE shares.
View WIRE analyst ratings or view top-rated stocks.

1 brokerages have issued 12-month price targets for Encore Wire's stock. Their WIRE share price forecasts range from $250.00 to $250.00. On average, they expect the company's stock price to reach $250.00 in the next twelve months. This suggests a possible upside of 35.4% from the stock's current price.
View analysts price targets for WIRE or view top-rated stocks among Wall Street analysts.

Encore Wire's stock was trading at $137.56 at the beginning of the year. Since then, WIRE stock has increased by 34.2% and is now trading at $184.61.
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The company is scheduled to release its next quarterly earnings announcement on Monday, July 24th 2023.
View our WIRE earnings forecast.

Encore Wire Co. (NASDAQ:WIRE) announced its quarterly earnings results on Tuesday, April, 25th. The electronics maker reported $6.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.44 by $1.06. The electronics maker had revenue of $660.50 million for the quarter, compared to analysts' expectations of $684.01 million. Encore Wire had a trailing twelve-month return on equity of 39.17% and a net margin of 22.87%. The firm's revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $7.96 earnings per share.

Encore Wire announced a quarterly dividend on Thursday, May 4th. Stockholders of record on Friday, July 7th will be given a dividend of $0.02 per share on Friday, July 21st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, July 6th.
Read our dividend analysis for WIRE.

ETFs with the largest weight of Encore Wire (NASDAQ:WIRE) stock in their portfolio include First Trust RBA American Industrial Renaissance ETF (AIRR), Cambria Value and Momentum ETF (VAMO), Changebridge Long/Short Equity ETF (CBLS), Changebridge Select Equity ETF (CBSE), Invesco S&P SmallCap Industrials ETF (PSCI), Invesco S&P SmallCap Quality ETF (XSHQ), Alpha Architect U.S. Quantitative Value ETF (QVAL) and Pacer US Small Cap Cash Cows 100 ETF (CALF).

Encore Wire (NASDAQ:WIRE) pays an annual dividend of $0.08 per share and currently has a dividend yield of 0.05%. The dividend payout ratio is 0.23%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, WIRE will have a dividend payout ratio of 0.44% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for WIRE.

24 employees have rated Encore Wire Chief Executive Officer Daniel L. Jones on Glassdoor.com. Daniel L. Jones has an approval rating of 59% among the company's employees. This puts Daniel L. Jones in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Encore Wire investors own include Verizon Communications (VZ), Altria Group (MO), AT&T (T), Weyerhaeuser (WY), AbbVie (ABBV), Advanced Micro Devices (AMD), Commercial Metals (CMC), Ecolab (ECL), Eastman Chemical (EMN) and General Electric (GE).

Encore Wire trades on the NASDAQ under the ticker symbol "WIRE."

Encore Wire's stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (16.08%), Dimensional Fund Advisors LP (8.58%), Westfield Capital Management Co. LP (4.28%), State Street Corp (3.70%), Envestnet Asset Management Inc. (3.52%) and Royce & Associates LP (2.18%).
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Shares of WIRE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of WIRE stock can currently be purchased for approximately $184.61.

Encore Wire (NASDAQ:WIRE) has a market capitalization of $3.24 billion and generates $2.95 billion in revenue each year. The electronics maker earns $717.84 million in net income (profit) each year or $35.46 on an earnings per share basis.

The company employs 1,672 workers across the globe.

Encore Wire's mailing address is 1329 MILLWOOD RD, MCKINNEY TX, 75069. The official website for the company is www.encorewire.com. The electronics maker can be reached via phone at (972) 562-9473, via email at web.investor@encorewire.com, or via fax at 972-562-3644.