Shares of Encore Wire Corporation (NASDAQ:WIRE) have received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Encore Wire Corporation’s rating score has improved by 14.2% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 12-month consensus target price of $48.25 for the company and are predicting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Encore Wire Corporation an industry rank of 109 out of 265 based on the ratings given to related companies.

Several analysts have issued reports on the company. Sidoti assumed coverage on Encore Wire Corporation in a research note on Thursday. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded Encore Wire Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. TheStreet lowered Encore Wire Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Finally, BidaskClub lowered Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.

Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in shares of Encore Wire Corporation by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,096 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 1,806 shares during the period. Mason Street Advisors LLC raised its stake in shares of Encore Wire Corporation by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 4,849 shares of the electronics maker’s stock valued at $223,000 after purchasing an additional 320 shares during the period. Karp Capital Management Corp bought a new stake in shares of Encore Wire Corporation during the 1st quarter valued at $230,000. Aperio Group LLC raised its stake in shares of Encore Wire Corporation by 25.2% during the 2nd quarter. Aperio Group LLC now owns 6,259 shares of the electronics maker’s stock valued at $267,000 after purchasing an additional 1,260 shares during the period. Finally, KCG Holdings Inc. bought a new stake in shares of Encore Wire Corporation during the 1st quarter valued at $269,000. Institutional investors own 89.13% of the company’s stock.

Shares of Encore Wire Corporation (NASDAQ WIRE) opened at 46.00 on Monday. The stock has a 50 day moving average of $44.38 and a 200 day moving average of $42.87. The firm has a market cap of $954.82 million, a price-to-earnings ratio of 22.77 and a beta of 2.25. Encore Wire Corporation has a 52-week low of $33.70 and a 52-week high of $49.75.

Encore Wire Corporation (NASDAQ:WIRE) last issued its earnings results on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.06). The firm had revenue of $291.50 million during the quarter, compared to the consensus estimate of $282.25 million. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Equities analysts predict that Encore Wire Corporation will post $2.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 6th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. Encore Wire Corporation’s payout ratio is presently 3.98%.

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About Encore Wire Corporation

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.

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