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 Down 0.9 %
Shares of WIRE traded down $1.23 during trading hours on Friday, reaching $142.50. 1,469 shares of the company traded hands, compared to its average volume of 336,455. The stock has a market capitalization of $2.73 billion, a P/E ratio of 4.22 and a beta of 1.27. Encore Wire has a 12-month low of $82.00 and a 12-month high of $151.64. The business has a fifty day moving average price of $115.98 and a 200-day moving average price of $118.22.
Encore Wire (NASDAQ:WIRE - Get Rating) last announced its quarterly earnings data on Monday, July 25th. The electronics maker reported $10.71 earnings per share for the quarter, beating analysts' consensus estimates of $5.14 by $5.57. The firm had revenue of $838.20 million for the quarter, compared to analyst estimates of $727.08 million. Encore Wire had a net margin of 23.24% and a return on equity of 49.46%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $8.82 earnings per share. As a group, research analysts predict that Encore Wire will post 26.86 EPS for the current fiscal year.
Encore Wire Announces Dividend
The firm 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 yield of 0.06%. Encore Wire's dividend payout ratio is presently 0.23%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on WIRE. DA Davidson lifted their price target on shares of Encore Wire from $175.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. StockNews.com raised shares of Encore Wire from a "hold" rating to a "buy" rating in a report on Wednesday, May 18th.