According to Zacks, “Encore Wire Corporation is a low-cost manufacturer of copper electrical building wire and cable. The Company is a significant supplier of both residential wire for interior electrical wiring in homes, apartments and manufactured housing, as well as building wire for electrical distribution in commercial and industrial buildings. “
WIRE has been the topic of several other reports. BidaskClub raised Encore Wire from a buy rating to a strong-buy rating in a research report on Friday, February 22nd. Sidoti raised Encore Wire from a neutral rating to a buy rating in a research report on Monday, June 3rd.
Shares of Encore Wire stock opened at $53.50 on Friday. The stock’s fifty day moving average is $53.44. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.47 and a beta of 1.47. Encore Wire has a 12-month low of $40.96 and a 12-month high of $61.68.
Encore Wire (NASDAQ:WIRE) last announced its earnings results on Tuesday, April 30th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.08). The company had revenue of $314.71 million for the quarter, compared to analyst estimates of $295.68 million. Encore Wire had a return on equity of 11.37% and a net margin of 6.11%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. As a group, sell-side analysts predict that Encore Wire will post 3.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date is Wednesday, July 3rd. Encore Wire’s payout ratio is 2.14%.
Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in Encore Wire by 377.7% during the first quarter. Quadrant Capital Group LLC now owns 535 shares of the electronics maker’s stock valued at $29,000 after buying an additional 423 shares during the period. Bremer Trust National Association acquired a new position in Encore Wire during the fourth quarter valued at $30,000. Bremer Bank National Association acquired a new position in Encore Wire during the first quarter valued at $36,000. Strs Ohio acquired a new position in Encore Wire during the first quarter valued at $97,000. Finally, Denali Advisors LLC acquired a new position in Encore Wire during the first quarter valued at $126,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.
About Encore Wire
Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables 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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