Encore Wire Corp. [NASDAQ: WIRE] closed the trading session at $227.17. The company report on February 15, 2024 at 1:00 PM that Encore Wire Announces Cash Dividend.
Encore Wire Corporation (NASDAQ Global Select: WIRE) announced today that the Company’s Board of Directors has declared a cash dividend.
Daniel L. Jones, Chairman, President and Chief Executive Officer of Encore Wire Corporation, said, “This two-cent per share dividend will be paid on April 19, 2024 to stockholders of record at the close of business on April 5, 2024. Any future quarterly dividends will be paid subject to earnings and cash flow considerations. We appreciate our stockholders’ commitment to the continued growth of Encore Wire. We will continue to manage the Company for the long-term and strive to protect our strong balance sheet.”.
The stocks have a year to date performance of 6.35 percent and weekly performance of -7.02 percent. The stock has been moved at 43.61 percent over the last six months. The stock has performed 7.03 percent around the most recent 30 days and changed 13.38 percent over the most recent 3-months.
If compared to the average trading volume of 189.99K shares, WIRE reached to a volume of 133916 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Encore Wire Corp. [WIRE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WIRE shares is $287.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WIRE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CJS Securities have made an estimate for Encore Wire Corp. shares, keeping their opinion on the stock as Market Outperform, with their previous recommendation back on October 11, 2023.
The Average True Range (ATR) for Encore Wire Corp. is set at 8.09, with the Price to Sales ratio for WIRE stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 2.03, with the Price to Cash per share for the same quarter was set at 35.53. Price to Free Cash Flow for WIRE in the course of the last twelve months was 12.33 with Quick ratio for the last quarter at 6.54.
WIRE stock trade performance evaluation
Encore Wire Corp. [WIRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.02. With this latest performance, WIRE shares gained by 7.03% in over the last four-week period, additionally plugging by 43.61% over the last 6 months – not to mention a rise of 17.21% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WIRE stock in for the last two-week period is set at 50.77, with the RSI for the last a single of trading hit 46.28, and the three-weeks RSI is set at 53.48 for Encore Wire Corp. [WIRE]. The present Moving Average for the last 50 days of trading for this stock 217.48, while it was recorded at 235.97 for the last single week of trading, and 185.48 for the last 200 days.
Encore Wire Corp. [WIRE]: An insightful look at the core fundamentals
Encore Wire Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.54 and a Current Ratio set at 7.56.
Earnings per share (EPS) analysis for Encore Wire Corp. [WIRE] stock
With the latest financial reports released by the company, Encore Wire Corp. posted 6.5/share EPS, while the average EPS was predicted by analysts to be reported at 5.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WIRE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Encore Wire Corp. go to 10.00%.
Encore Wire Corp. [WIRE]: Institutional Ownership
The top three institutional holders of WIRE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WIRE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WIRE stock with ownership which is approximately 5.8325%.
