Q3 2017 EPS Estimates for Encore Wire Corporation (WIRE) Lowered by DA Davidson
Encore Wire Corporation (NASDAQ:WIRE) – Stock analysts at DA Davidson reduced their Q3 2017 EPS estimates for Encore Wire Corporation in a research note issued on Thursday. DA Davidson analyst B. Thielman now anticipates that the electronics maker will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.65. DA Davidson also issued estimates for Encore Wire Corporation’s FY2017 earnings at $2.20 EPS.
Separately, Zacks Investment Research lowered Encore Wire Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th.
ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/07/q3-2017-eps-estimates-for-encore-wire-corporation-wire-lowered-by-da-davidson.html.
Shares of Encore Wire Corporation (WIRE) opened at 40.80 on Monday. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75. The firm has a market cap of $846.60 million, a price-to-earnings ratio of 20.20 and a beta of 2.24. The firm’s 50-day moving average price is $43.06 and its 200-day moving average price is $43.76.
Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.06. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $282.25 million. During the same quarter last year, the business earned $0.38 EPS. Encore Wire Corporation’s revenue for the quarter was up 22.1% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of WIRE. BNP Paribas Arbitrage SA raised its position in Encore Wire Corporation by 62.7% in the second quarter. BNP Paribas Arbitrage SA now owns 6,835 shares of the electronics maker’s stock worth $292,000 after buying an additional 2,634 shares during the last quarter. Legal & General Group Plc raised its position in shares of Encore Wire Corporation by 15.4% in the second quarter. Legal & General Group Plc now owns 39,718 shares of the electronics maker’s stock valued at $1,696,000 after buying an additional 5,298 shares in the last quarter. Rhumbline Advisers raised its position in shares of Encore Wire Corporation by 0.8% in the second quarter. Rhumbline Advisers now owns 47,630 shares of the electronics maker’s stock valued at $2,034,000 after buying an additional 381 shares in the last quarter. Foundry Partners LLC raised its position in shares of Encore Wire Corporation by 34.1% in the second quarter. Foundry Partners LLC now owns 11,605 shares of the electronics maker’s stock valued at $496,000 after buying an additional 2,950 shares in the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Encore Wire Corporation by 2.6% in the second quarter. Granite Investment Partners LLC now owns 274,096 shares of the electronics maker’s stock valued at $11,704,000 after buying an additional 6,935 shares in the last quarter. Institutional investors and hedge funds own 90.55% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.20%. Encore Wire Corporation’s payout ratio is presently 3.98%.
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.
Receive News & Ratings for Encore Wire Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire Corporation and related companies with MarketBeat.com's FREE daily email newsletter.