Encore Wire (WIRE) Announces Earnings Results

Encore Wire (NASDAQ:WIRE) posted its earnings results on Tuesday. The electronics maker reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.42, MarketWatch Earnings reports. The company had revenue of $340.70 million for the quarter, compared to the consensus estimate of $302.86 million. Encore Wire had a return on equity of 10.54% and a net margin of 6.42%. Encore Wire’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share.

Shares of NASDAQ:WIRE opened at $44.20 on Thursday. Encore Wire has a 52-week low of $40.96 and a 52-week high of $58.70. The firm has a market capitalization of $928.41 million, a PE ratio of 16.93, a P/E/G ratio of 1.61 and a beta of 1.83.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, October 5th were given a $0.02 dividend. The ex-dividend date was Thursday, October 4th. This represents a $0.08 annualized dividend and a dividend yield of 0.18%. Encore Wire’s dividend payout ratio is currently 3.07%.

WIRE has been the topic of a number of research analyst reports. BidaskClub downgraded Encore Wire from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Zacks Investment Research upgraded Encore Wire from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, DA Davidson set a $60.00 target price on Encore Wire and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

About Encore Wire

Encore Wire Corporation manufactures and sells electrical building wire and cable products for interior electrical wiring in the United States. Its products include NM-B cable for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2, metal-clad, and armored cables for use primarily as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; and other types of wire products.

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Earnings History for Encore Wire (NASDAQ:WIRE)

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