Encore Wire Corp. Price Target Cut to $55.00 (WIRE)
Analysts at DA Davidson decreased their price objective on shares of Encore Wire Corp. (NASDAQ:WIRE) from $64.00 to $55.00 in a research report issued to clients and investors on Monday. DA Davidson’s price objective would suggest a potential upside of 19.88% from the company’s current price.
Shares of Encore Wire Corp. (NASDAQ:WIRE) traded down 1.79% on Monday, hitting $45.06. The stock had a trading volume of 69,817 shares. Encore Wire Corp. has a 52 week low of $36.88 and a 52 week high of $57.99. The stock has a 50-day moving average of $49.42 and a 200-day moving average of $49.90. The company has a market cap of $933.4 million and a price-to-earnings ratio of 20.76.
Encore Wire Corp. (NASDAQ:WIRE) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.19. The company had revenue of $307.09 million for the quarter, compared to the consensus estimate of $312.00 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that Encore Wire Corp. will post $2.60 EPS for the current fiscal year.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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