Encore Wire Co. (NASDAQ:WIRE) – Stock analysts at DA Davidson increased their Q4 2018 earnings per share estimates for Encore Wire in a research report issued on Thursday, November 1st. DA Davidson analyst B. Thielman now anticipates that the electronics maker will post earnings per share of $0.73 for the quarter, up from their previous forecast of $0.66. DA Davidson has a “Buy” rating and a $60.00 price target on the stock. DA Davidson also issued estimates for Encore Wire’s Q1 2019 earnings at $0.63 EPS, Q2 2019 earnings at $0.83 EPS, Q3 2019 earnings at $0.92 EPS, Q4 2019 earnings at $0.89 EPS, FY2019 earnings at $3.26 EPS and FY2020 earnings at $3.52 EPS.
Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, October 30th. The electronics maker reported $1.13 EPS for the quarter, topping the consensus estimate of $0.71 by $0.42. Encore Wire had a net margin of 6.42% and a return on equity of 10.39%. The firm had revenue of $340.70 million for the quarter, compared to analyst estimates of $302.86 million. During the same period in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year.
Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a report on Saturday, September 15th. Zacks Investment Research upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $60.00.
Shares of WIRE stock opened at $49.09 on Friday. Encore Wire has a one year low of $40.96 and a one year high of $58.70. The company has a market capitalization of $1.02 billion, a PE ratio of 18.81, a P/E/G ratio of 1.78 and a beta of 1.67.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, October 5th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. Encore Wire’s dividend payout ratio (DPR) is presently 3.07%.
A number of institutional investors have recently added to or reduced their stakes in the business. Keybank National Association OH lifted its holdings in Encore Wire by 4.9% during the 2nd quarter. Keybank National Association OH now owns 23,600 shares of the electronics maker’s stock worth $1,120,000 after buying an additional 1,100 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Encore Wire by 33.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the electronics maker’s stock worth $314,000 after buying an additional 1,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Encore Wire by 34.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,523 shares of the electronics maker’s stock worth $262,000 after buying an additional 1,412 shares in the last quarter. United Services Automobile Association lifted its holdings in Encore Wire by 1.8% during the 2nd quarter. United Services Automobile Association now owns 103,796 shares of the electronics maker’s stock worth $4,925,000 after buying an additional 1,818 shares in the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in Encore Wire by 5.5% during the 2nd quarter. IndexIQ Advisors LLC now owns 38,577 shares of the electronics maker’s stock worth $1,830,000 after buying an additional 2,019 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.
Encore Wire Company Profile
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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