Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. The company's products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables and metal-clad and armored cables for use as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; USE-2 cables; and other types of wire products. It sells its products to wholesale electrical distributors primarily through independent manufacturers' representatives. Encore Wire Corporation was incorporated in 1989 and is headquartered in McKinney, Texas.
Encore Wire Stock Up 0.2 %
NASDAQ:WIRE traded up $0.30 on Monday, reaching $131.34. 159,762 shares of the company's stock traded hands, compared to its average volume of 254,608. The stock has a 50-day simple moving average of $116.26 and a 200-day simple moving average of $117.78. Encore Wire has a 12 month low of $82.00 and a 12 month high of $151.64. The firm has a market cap of $2.51 billion, a PE ratio of 3.85 and a beta of 1.27.
Encore Wire (NASDAQ:WIRE - Get Rating) last issued its earnings results on Monday, July 25th. The electronics maker reported $10.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.14 by $5.57. Encore Wire had a return on equity of 49.46% and a net margin of 23.24%. The company had revenue of $838.20 million for the quarter, compared to the consensus estimate of $727.08 million. During the same quarter last year, the company earned $8.82 EPS. The firm's quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Encore Wire will post 26.86 earnings per share for the current year.
Encore Wire Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.06%. Encore Wire's dividend payout ratio is 0.23%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Encore Wire from a "hold" rating to a "buy" rating in a report on Wednesday, May 18th. DA Davidson increased their price objective on shares of Encore Wire from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th.