Encore Wire Corporation (WIRE) Issues Earnings Results, Beats Estimates By $0.12 EPS
Encore Wire Corporation (NASDAQ:WIRE) issued its quarterly earnings data on Tuesday. The electronics maker reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.12, Bloomberg Earnings reports. The firm had revenue of $292.00 million during the quarter, compared to the consensus estimate of $279.60 million. Encore Wire Corporation had a return on equity of 7.42% and a net margin of 4.01%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS.
Shares of Encore Wire Corporation (NASDAQ WIRE) traded up 2.38% on Tuesday, reaching $45.15. The company’s stock had a trading volume of 125,436 shares. The stock has a 50-day moving average of $44.82 and a 200 day moving average of $42.88. The stock has a market capitalization of $937.18 million, a price-to-earnings ratio of 22.35 and a beta of 2.25. Encore Wire Corporation has a 52 week low of $33.75 and a 52 week high of $49.75.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 6th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.18%. Encore Wire Corporation’s dividend payout ratio (DPR) is presently 3.98%.
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A number of research analysts recently commented on the company. Sidoti assumed coverage on Encore Wire Corporation in a research note on Thursday, October 19th. They set a “neutral” rating for the company. TheStreet upgraded Encore Wire Corporation from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Zacks Investment Research upgraded Encore Wire Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub downgraded Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.
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.
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