Encore Wire (NASDAQ:WIRE) issued its quarterly earnings data on Tuesday. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.28, Briefing.com reports. Encore Wire had a net margin of 4.53% and a return on equity of 8.42%. The company had revenue of $301.29 million during the quarter, compared to the consensus estimate of $279.70 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 25.9% compared to the same quarter last year.
Shares of Encore Wire (NASDAQ:WIRE) traded down $0.60 during mid-day trading on Tuesday, hitting $47.70. 44,614 shares of the stock traded hands, compared to its average volume of 65,409. Encore Wire has a 52 week low of $37.30 and a 52 week high of $52.65. The company has a market capitalization of $1,005.38, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 2.29 and a beta of 2.26.
Several equities research analysts have recently issued reports on WIRE shares. TheStreet raised shares of Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. BidaskClub raised shares of Encore Wire from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Sidoti raised shares of Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Wednesday, December 6th. Finally, Zacks Investment Research downgraded shares of Encore Wire from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 2nd.
Encore Wire 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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