Encore Wire Corp. (NASDAQ:WIRE) has been assigned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.
Brokerages have set a twelve-month consensus price objective of $42.00 for the company and are expecting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also assigned Encore Wire Corp. an industry rank of 254 out of 265 based on the ratings given to its competitors.
A number of analysts have commented on WIRE shares. Singular Research started coverage on Encore Wire Corp. in a report on Tuesday, May 31st. They set a “buy” rating and a $47.00 price objective for the company. DA Davidson reissued a “hold” rating on shares of Encore Wire Corp. in a report on Monday, September 19th. Sidoti lowered Encore Wire Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $46.00 to $44.00 in a report on Thursday, July 28th. Finally, Zacks Investment Research lowered Encore Wire Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 3rd.
Shares of Encore Wire Corp. (NASDAQ:WIRE) traded up 1.19% during mid-day trading on Tuesday, reaching $35.58. The company’s stock had a trading volume of 24,248 shares. The firm has a market cap of $736.36 million, a price-to-earnings ratio of 17.61 and a beta of 1.98. The firm has a 50 day moving average price of $37.52 and a 200 day moving average price of $38.38. Encore Wire Corp. has a 52-week low of $31.67 and a 52-week high of $44.95.
Encore Wire Corp. (NASDAQ:WIRE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.19. The company had revenue of $238.80 million for the quarter, compared to the consensus estimate of $241.88 million. Encore Wire Corp. had a return on equity of 7.73% and a net margin of 4.28%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, equities analysts predict that Encore Wire Corp. will post $2.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Wednesday, October 5th. Encore Wire Corp.’s dividend payout ratio is presently 3.96%.
Several institutional investors have recently added to or reduced their stakes in WIRE. Teacher Retirement System of Texas raised its position in Encore Wire Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,746 shares of the company’s stock valued at $102,000 after buying an additional 334 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Encore Wire Corp. during the second quarter valued at about $151,000. C M Bidwell & Associates Ltd. acquired a new position in Encore Wire Corp. during the second quarter valued at about $191,000. BlackRock Inc. raised its position in Encore Wire Corp. by 281.3% in the second quarter. BlackRock Inc. now owns 5,170 shares of the company’s stock valued at $192,000 after buying an additional 3,814 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in Encore Wire Corp. by 6.2% in the second quarter. Guggenheim Capital LLC now owns 6,049 shares of the company’s stock valued at $225,000 after buying an additional 354 shares in the last quarter. 88.82% of the stock is owned by institutional investors.
Encore Wire Corp. 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 operates in the manufacture of 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 segment.
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