Encore Wire Corporation (WIRE) Issues Earnings Results, Beats Estimates By $0.12 EPS

Encore Wire Corporation (NASDAQ:WIRE) posted its quarterly earnings data on Tuesday. The electronics maker reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.12, Bloomberg Earnings reports. Encore Wire Corporation had a return on equity of 8.52% and a net margin of 4.53%. The company had revenue of $292.00 million during the quarter, compared to analyst estimates of $279.60 million. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, October 6th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend was Thursday, October 5th. Encore Wire Corporation’s dividend payout ratio (DPR) is presently 3.35%.

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A number of research analysts recently weighed in on the company. TheStreet raised Encore Wire Corporation from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Sidoti assumed coverage on Encore Wire Corporation in a research report on Thursday, October 19th. They set a “neutral” rating for the company. Zacks Investment Research raised Encore Wire Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, BidaskClub lowered Encore Wire Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

Encore Wire Corporation Company Profile

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

Earnings History for Encore Wire Corporation (NASDAQ:WIRE)

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