Encore Wire Corp. Plans Quarterly Dividend of $0.02 (WIRE)
Encore Wire Corp. (NASDAQ:WIRE) announced a quarterly dividend on Wednesday, February 26th, Analyst Ratings News reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.02 per share on Friday, April 18th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Wednesday, April 2nd.
A number of research firms have recently commented on WIRE. Analysts at EVA Dimensions LLC upgraded shares of Encore Wire Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. On the ratings front, analysts at Davidson raised their price target on shares of Encore Wire Corp. from $55.00 to $65.00 in a research note on Monday, January 13th. Finally, analysts at Jefferson Research downgraded shares of Encore Wire Corp. from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Encore Wire Corp. currently has an average rating of “Buy” and an average price target of $57.60.
Encore Wire Corp. (NASDAQ:WIRE) traded up 3.00% during mid-day trading on Wednesday, hitting $52.56. 250,622 shares of the company’s stock traded hands. Encore Wire Corp. has a 1-year low of $31.46 and a 1-year high of $57.99. The stock has a 50-day moving average of $52.44 and a 200-day moving average of $46.54. The company has a market cap of $1.088 billion and a price-to-earnings ratio of 22.58.
Encore Wire Corp. (NASDAQ:WIRE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.02. The company had revenue of $293.50 million for the quarter, compared to the consensus estimate of $281.63 million. On average, analysts predict that Encore Wire Corp. will post $2.93 earnings per share for the current fiscal year.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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