Encore Wire Corporation (WIRE) Plans Quarterly Dividend of $0.02

Encore Wire Corporation (NASDAQ:WIRE) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Friday, October 6th will be given a dividend of 0.02 per share by the electronics maker on Friday, October 20th. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, October 5th.

Encore Wire Corporation (NASDAQ WIRE) traded down 0.39% during mid-day trading on Friday, hitting $38.20. The stock had a trading volume of 62,818 shares. The company’s 50 day moving average price is $41.89 and its 200 day moving average price is $43.47. The firm has a market cap of $792.92 million, a PE ratio of 18.91 and a beta of 2.24. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75.

Encore Wire Corporation (NASDAQ:WIRE) last announced its quarterly earnings data on Tuesday, August 1st. The electronics maker reported $0.52 EPS for the quarter, missing the consensus estimate of $0.58 by $0.06. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $282.25 million. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. Encore Wire Corporation’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Analysts anticipate that Encore Wire Corporation will post $2.23 earnings per share for the current year.

Several brokerages have recently commented on WIRE. Zacks Investment Research lowered Encore Wire Corporation from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, April 26th. TheStreet lowered Encore Wire Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered Encore Wire Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

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About Encore Wire Corporation

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.

Dividend History for Encore Wire Corporation (NASDAQ:WIRE)

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