Encore Wire Corporation (NASDAQ:WIRE) has been assigned a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a 1 year consensus price objective of $48.25 for the company and are anticipating that the company will post $0.58 earnings per share for the current quarter, according to Zacks. Zacks has also given Encore Wire Corporation an industry rank of 28 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered Encore Wire Corporation from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, April 26th.
Encore Wire Corporation (WIRE) traded up 0.58% during mid-day trading on Tuesday, reaching $43.50. The company had a trading volume of 10,241 shares. The stock’s 50-day moving average is $42.79 and its 200 day moving average is $43.71. The firm has a market capitalization of $902.54 million, a P/E ratio of 23.26 and a beta of 2.23. Encore Wire Corporation has a 12 month low of $33.70 and a 12 month high of $49.75.
Encore Wire Corporation (NASDAQ:WIRE) last announced its earnings results on Tuesday, May 2nd. The electronics maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.14. The company had revenue of $279.39 million for the quarter, compared to analyst estimates of $280 million. Encore Wire Corporation had a return on equity of 7.01% and a net margin of 3.91%. On average, analysts predict that Encore Wire Corporation will post $2.30 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend was Wednesday, July 5th. Encore Wire Corporation’s payout ratio is 4.28%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LSV Asset Management acquired a new position in Encore Wire Corporation during the first quarter valued at $101,000. State of Alaska Department of Revenue raised its position in Encore Wire Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,290 shares of the electronics maker’s stock valued at $105,000 after buying an additional 50 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Encore Wire Corporation by 3.5% in the first quarter. BNP Paribas Arbitrage SA now owns 4,201 shares of the electronics maker’s stock valued at $193,000 after buying an additional 143 shares during the last quarter. Trexquant Investment LP acquired a new position in Encore Wire Corporation during the first quarter valued at $213,000. Finally, Mason Street Advisors LLC raised its position in Encore Wire Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,849 shares of the electronics maker’s stock valued at $223,000 after buying an additional 320 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.
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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