Equities Analysts Offer Predictions for Encore Wire Co.’s Q2 2022 Earnings (NASDAQ:WIRE)

Encore Wire Co. (NASDAQ:WIREGet Rating) – DA Davidson issued their Q2 2022 earnings per share (EPS) estimates for Encore Wire in a research note issued on Monday, May 2nd. DA Davidson analyst B. Thielman forecasts that the electronics maker will post earnings of $4.15 per share for the quarter.

Encore Wire (NASDAQ:WIREGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The electronics maker reported $7.96 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $5.02. Encore Wire had a return on equity of 55.00% and a net margin of 23.05%. The firm had revenue of $723.07 million for the quarter, compared to analyst estimates of $567.63 million. During the same period in the prior year, the firm posted $1.99 EPS. The company’s revenue for the quarter was up 62.8% on a year-over-year basis.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Encore Wire from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 20th. StockNews.com initiated coverage on Encore Wire in a research report on Thursday, March 31st. They set a “buy” rating for the company.

Shares of NASDAQ WIRE opened at $117.40 on Tuesday. The stock’s fifty day moving average price is $116.48 and its two-hundred day moving average price is $124.47. Encore Wire has a one year low of $65.98 and a one year high of $151.64. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 3.65 and a beta of 1.17.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Friday, April 1st were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $0.08 annualized dividend and a dividend yield of 0.07%. Encore Wire’s dividend payout ratio is currently 0.25%.

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new stake in shares of Encore Wire during the 4th quarter worth $29,000. Koshinski Asset Management Inc. bought a new position in Encore Wire in the fourth quarter valued at about $40,000. First Quadrant L P CA bought a new position in Encore Wire in the fourth quarter valued at about $41,000. Sageworth Trust Co of South Dakota bought a new position in Encore Wire in the fourth quarter valued at about $42,000. Finally, Archer Investment Corp bought a new position in Encore Wire in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 90.89% of the company’s stock.

About Encore Wire (Get Rating)

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. The company's products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables and metal-clad and armored cables for use as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; USE-2 cables; and other types of wire products.

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