Encore Wire Co. (NASDAQ:WIRE) declared a quarterly dividend on Thursday, May 14th, Zacks reports. Stockholders of record on Thursday, July 2nd will be given a dividend of 0.02 per share by the electronics maker on Friday, July 17th. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Wednesday, July 1st.
Encore Wire has a payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Encore Wire to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 3.5%.
Encore Wire stock opened at $45.72 on Monday. The stock has a market cap of $942.47 million, a PE ratio of 15.14 and a beta of 1.20. The stock has a 50-day moving average price of $47.15 and a 200 day moving average price of $50.01. Encore Wire has a 52 week low of $38.01 and a 52 week high of $62.08.
Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.41. The firm had revenue of $302.79 million during the quarter, compared to analysts’ expectations of $297.48 million. Encore Wire had a return on equity of 8.23% and a net margin of 5.01%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts predict that Encore Wire will post 2.93 EPS for the current fiscal year.
A number of analysts recently commented on the company. BidaskClub cut Encore Wire from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. DA Davidson cut Encore Wire from a “buy” rating to a “neutral” rating and lowered their price target for the company from $60.00 to $56.00 in a report on Thursday, April 30th. Zacks Investment Research cut Encore Wire from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, ValuEngine cut Encore Wire from a “hold” rating to a “sell” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Encore Wire currently has an average rating of “Hold” and an average target price of $61.00.
About Encore Wire
Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2, metal-clad, and armored cables for use primarily as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; and other types of wire products.
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