NASDAQ:WIRE

Encore Wire (WIRE) Stock Forecast, Price & News

$174.23

-0.17 (-0.10%)

(As of 09/22/2023 ET)

Compare

Today's Range: $174.08
▼
$178.01
50-Day Range: $158.19
▼
$178.49
52-Week Range: $108.53
▼
$206.74

Volume: 297,323 shs
Average Volume: 238,538 shs
Market Capitalization: $2.93 billion

P/E Ratio: 5.66
Dividend Yield: 0.05%
Price Target: $240.00

Encore Wire MarketRank™ Forecast

Analyst Rating: 0.00 Rating Score
Upside/Downside: 37.7% Upside
$240.00 Price Target
Short Interest: Bearish
24.80% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 1.53
Based on 5 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: -19.86%
From $21.35 to $17.11 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.72 out of 5 stars

Industrial Products Sector

153rd out of 177 stocks

Rolling, Drawing, & Extruding Of Nonferrous Metals Industry

4th out of 7 stocks

2.0

Analyst's Opinion

Price Target Upside/Downside
According to analysts' consensus price target of $240.00, Encore Wire has a forecasted upside of 37.7% from its current price of $174.23.
Amount of Analyst Coverage
Encore Wire has received no research coverage in the past 90 days.

0.0

Short Interest

Percentage of Shares Shorted
24.80% of the float of Encore Wire has been sold short.
Short Interest Ratio / Days to Cover
Encore Wire has a short interest ratio ("days to cover") of 16.3, which indicates bearish sentiment.
Change versus previous month
Short interest in Encore Wire has recently increased by 3.68%, indicating that investor sentiment is decreasing.

1.7

Dividend Strength

Dividend Yield
Encore Wire has a dividend yield of 0.05%, which is in the bottom 25% of all stocks that pay dividends.
Dividend Growth
Encore Wire does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Encore Wire is 0.26%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Encore Wire will have a dividend payout ratio of 0.47% next year. This indicates that Encore Wire will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for WIRE.

3.6

News and Social Media Coverage

News Sentiment
Encore Wire has a news sentiment score of 1.53. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.73 average news sentiment score of Industrial Products companies.
News Coverage This Week
MarketBeat has tracked 5 news articles for Encore Wire this week, compared to 3 articles on an average week.
Search Interest
Only 4 people have searched for WIRE on MarketBeat in the last 30 days. This is a decrease of -78% compared to the previous 30 days.
MarketBeat Follows
8 people have added Encore Wire to their MarketBeat watchlist in the last 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Encore Wire insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 5.55% of the stock of Encore Wire is held by insiders.
Percentage Held by Institutions
99.82% of the stock of Encore Wire is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Encore Wire are expected to decrease by -19.86% in the coming year, from $21.35 to $17.11 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Encore Wire is 5.66, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 109.72.
Price to Earnings Ratio vs. Sector
The P/E ratio of Encore Wire is 5.66, which means that it is trading at a less expensive P/E ratio than the Industrial Products sector average P/E ratio of about 17.19.
Price to Book Value per Share Ratio
Encore Wire has a P/B Ratio of 1.76. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Encore Wire (NASDAQ:WIRE) Stock

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. The company 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. It sells its products to wholesale electrical distributors primarily through independent manufacturers' representatives for residential, commercial, industrial, and renewable energy sectors. Encore Wire Corporation was incorporated in 1989 and is headquartered in McKinney, Texas.

WIRE Price History

30 days | 90 days | 365 days | Advanced Chart

WIRE Stock News Headlines

September 22, 2023 | msn.com

Encore Wire: Good Value With Renewable Upside

September 15, 2023 | msn.com

Encore Wire: The Shorts Are Offside

September 24, 2023 | Behind the Markets (Ad)

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September 15, 2023 | americanbankingnews.com

StockNews.com Lowers Encore Wire (NASDAQ:WIRE) to Hold

September 14, 2023 | finance.yahoo.com

Bear Of The Day: Encore Wire (WIRE)

August 14, 2023 | finance.yahoo.com

Declining Stock and Solid Fundamentals: Is The Market Wrong About Encore Wire Corporation (NASDAQ:WIRE)?

July 27, 2023 | finance.yahoo.com

Q2 2023 Encore Wire Corp Earnings Call

July 27, 2023 | benzinga.com

Encore Wire Unusual Options Activity

September 24, 2023 | Chaikin Analytics (Ad)

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July 27, 2023 | finance.yahoo.com

Investors Shouldn't Overlook Encore Wire's (NASDAQ:WIRE) Impressive Returns On Capital

July 25, 2023 | finance.yahoo.com

Encore Wire Reports Strong Second Quarter Results; Highlights Share Repurchases During Quarter; Board Increases Share Repurchase Authorization

July 24, 2023 | benzinga.com

Encore Wire's Earnings Outlook

July 19, 2023 | msn.com

Encore Wire And Its Real Value

July 7, 2023 | finance.yahoo.com

7 Stocks Sitting on Huge Piles of Cash

July 3, 2023 | msn.com

Unleashing The Power Of The Small: Atkore Vs. Encore Wire

June 13, 2023 | msn.com

Encore Wire (WIRE) is on the Move, Here's Why the Trend Could be Sustainable

June 5, 2023 | finance.yahoo.com

Best Value Stocks to Buy for June 5th

May 30, 2023 | finance.yahoo.com

Encore Wire (WIRE) Stock Moves -0.18%: What You Should Know

May 26, 2023 | finance.yahoo.com

Encore Wire (WIRE) Crossed Above the 50-Day Moving Average: What That Means for Investors

May 26, 2023 | finance.yahoo.com

Encore Wire (WIRE) Just Overtook the 20-Day Moving Average

May 24, 2023 | msn.com

Encore Wire Can Electrify Your Portfolio

May 23, 2023 | finance.yahoo.com

Royce Investment Partners Podcast: Discipline and Due Diligence in Small-Cap Investing

May 6, 2023 | msn.com

Encore Wire (WIRE) Declares $0.02 Dividend

May 2, 2023 | msn.com

Encore Wire's Margins Look Unsustainable

May 2, 2023 | finance.yahoo.com

Is Terex (TEX) Outperforming Other Industrial Products Stocks This Year?

May 1, 2023 | finance.yahoo.com

Down -15.65% in 4 Weeks, Here's Why Encore Wire (WIRE) Looks Ripe for a Turnaround

April 27, 2023 | finance.yahoo.com

Q1 2023 Encore Wire Corp Earnings Call

See More Headlines

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WIRE Company Calendar

Ex-Dividend for 7/21 Dividend: 7/06/2023
Dividend Payable: 7/21/2023
Last Earnings: 7/25/2023
Today: 9/24/2023
Ex-Dividend for 10/20 Dividend: 10/05/2023
Dividend Payable: 10/20/2023
Next Earnings (Estimated): 10/24/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Rolling, drawing, & extruding of nonferrous metals
Sub-Industry: Electrical Components & Equipment
Sector: Industrial Products
Current Symbol: NASDAQ:WIRE
CUSIP: 29256210
CIK: 850460
Web: www.encorewire.com
Phone: (972) 562-9473
Fax: 972-562-3644
Employees: 1,672
Year Founded: 1989

Price Target and Rating

Average Stock Price Forecast: $240.00
High Stock Price Forecast: $240.00
Low Stock Price Forecast: $240.00
Forecasted Upside/Downside: +37.7%
Consensus Rating
Rating Score (0-4): 0.00
Research Coverage: 0 Analysts

Profitability

EPS (Most Recent Fiscal Year): $30.76
Trailing P/E Ratio: 5.66
Forward P/E Ratio: 8.16
P/E Growth: N/A
Net Income: $717.84 million
Net Margins: 20.70%
Pretax Margin: 26.78%
Return on Equity: 32.05%
Return on Assets: 28.82%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 8.23
Quick Ratio: 7.22

Sales & Book Value

Annual Sales: $3.02 billion
Price / Sales: 0.97
Cash Flow: $40.52 per share
Price / Cash Flow: 4.30
Book Value: $99.15 per share
Price / Book: 1.76

Miscellaneous

Outstanding Shares: 16,810,000
Free Float: 15,872,000
Market Cap: $2.93 billion
Optionable: Optionable
Beta: 1.33

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Key Executives

Mr. Daniel L. Jones (Age 60)
Chairman, Pres & CEO
Comp: $7.12M

Mr. Bret J. Eckert (Age 56)
Exec. VP, CFO, VP of Fin., Treasurer & Sec.
Comp: $3.54M

Mr. William T. Bigbee
VP of Operations

Mr. Kevin M. Keiffer
VP of Sales & Marketing

Mr. Matthew D. Ford
Assistant Sec. & Controller

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

WIRE Stock - Frequently Asked Questions

What is Encore Wire's stock price forecast for 2023?: 0 Wall Street analysts have issued 1-year price objectives for Encore Wire's stock. Their WIRE share price forecasts range from $240.00 to $240.00. On average, they predict the company's stock price to reach $240.00 in the next twelve months. This suggests a possible upside of 37.7% from the stock's current price.
View analysts price targets for WIRE or view top-rated stocks among Wall Street analysts.
How have WIRE shares performed in 2023?: Encore Wire's stock was trading at $137.56 at the start of the year. Since then, WIRE stock has increased by 26.7% and is now trading at $174.23.
View the best growth stocks for 2023 here.
When is Encore Wire's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 24th 2023.
View our WIRE earnings forecast.
How were Encore Wire's earnings last quarter?: Encore Wire Co. (NASDAQ:WIRE) announced its quarterly earnings data on Tuesday, July, 25th. The electronics maker reported $6.01 EPS for the quarter, missing analysts' consensus estimates of $6.55 by $0.54. The electronics maker had revenue of $636.46 million for the quarter, compared to the consensus estimate of $738.60 million. Encore Wire had a trailing twelve-month return on equity of 32.05% and a net margin of 20.70%. Encore Wire's revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the company posted $10.71 EPS.
How often does Encore Wire pay dividends? What is the dividend yield for Encore Wire?: Encore Wire announced a quarterly dividend on Tuesday, August 8th. Investors of record on Friday, October 6th will be given a dividend of $0.02 per share on Friday, October 20th. This represents a $0.08 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend is Thursday, October 5th.
Read our dividend analysis for WIRE.
What ETFs hold Encore Wire's stock?: 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), Invesco S&P SmallCap Industrials ETF (PSCI), Pacer US Small Cap Cash Cows 100 ETF (CALF), Profound Medical (PRN), Invesco S&P SmallCap 600 Pure Growth ETF (RZG), Euclidean Fundamental Value ETF (ECML) and Invesco S&P SmallCap Quality ETF (XSHQ).
Is Encore Wire a good dividend stock?: 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 0.26%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, WIRE will have a dividend payout ratio of 0.47% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for WIRE.
What is Daniel L. Jones' approval rating as Encore Wire's CEO?: 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.

What other stocks do shareholders of Encore Wire own?: 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).
What is Encore Wire's stock symbol?: Encore Wire trades on the NASDAQ under the ticker symbol "WIRE."
Who are Encore Wire's major shareholders?: Encore Wire's stock is owned by a number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (16.10%), Dimensional Fund Advisors LP (8.67%), State Street Corp (3.74%), LSV Asset Management (2.81%), Royce & Associates LP (2.26%) and Geode Capital Management LLC (2.13%).
View institutional ownership trends.
How do I buy shares of Encore Wire?: 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.
Compare Top Brokerages Here.
What is Encore Wire's stock price today?: One share of WIRE stock can currently be purchased for approximately $174.23.
How much money does Encore Wire make?: Encore Wire (NASDAQ:WIRE) has a market capitalization of $2.93 billion and generates $3.02 billion in revenue each year. The electronics maker earns $717.84 million in net income (profit) each year or $30.76 on an earnings per share basis.
How many employees does Encore Wire have?: The company employs 1,672 workers across the globe.
Does Encore Wire have any subsidiaries?: The following companies are subsidiares of Encore Wire: EWC Aviation Corporation.
Read More
How can I contact Encore Wire?: 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.

This page (NASDAQ:WIRE) was last updated on 9/24/2023 by MarketBeat.com Staff

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