Headlines about Encore Wire (NASDAQ:WIRE) have been trending somewhat positive this week, Accern reports. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Encore Wire earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave news stories about the electronics maker an impact score of 46.961889121134 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media headlines that may have impacted Accern’s analysis:
Shares of NASDAQ WIRE traded down $1.35 during midday trading on Friday, reaching $54.95. 54,087 shares of the stock traded hands, compared to its average volume of 86,308. The company has a market capitalization of $1,145.38, a P/E ratio of 21.05, a P/E/G ratio of 1.85 and a beta of 2.00. Encore Wire has a one year low of $37.30 and a one year high of $58.70.
Encore Wire (NASDAQ:WIRE) last posted its earnings results on Tuesday, February 20th. The electronics maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.28. The firm had revenue of $301.29 million during the quarter, compared to the consensus estimate of $279.70 million. Encore Wire had a return on equity of 8.94% and a net margin of 5.76%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. equities analysts expect that Encore Wire will post 2.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Friday, April 6th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Encore Wire’s payout ratio is 3.07%.
A number of brokerages have issued reports on WIRE. BidaskClub raised shares of Encore Wire from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. ValuEngine raised shares of Encore Wire from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Zacks Investment Research raised shares of Encore Wire from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, February 27th. Finally, DA Davidson increased their price objective on shares of Encore Wire to $54.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $58.00.
In other news, insider Matthew D. Ford sold 2,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $52.45, for a total transaction of $131,125.00. Following the transaction, the insider now owns 4,000 shares in the company, valued at $209,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Frank J. Bilban sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $50.50, for a total value of $757,500.00. Following the transaction, the vice president now owns 34,900 shares in the company, valued at approximately $1,762,450. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,524 shares of company stock worth $1,353,539. Insiders own 3.79% of the company’s stock.
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About Encore Wire
Encore Wire Corporation manufactures and sells electrical building wire and cable products for interior electrical wiring in the United States. Its products include NM-B cable 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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