Encore Wire Corporation (NASDAQ:WIRE) is expected to report third quarter earnings results, after market close, on Tuesday 27th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.75 per share.
Looking ahead, the full year income are expected at $ 2.89 per share on the revenues of $ 1203.39 million.
Previous Quarter Performance
Encore Wire Corporation disclosed income for the second quarter of $ 0.60 per share, from the revenue of $ 253.63 million. The quarterly earnings down 29.41 percent compared with the same quarter last year. According to street consensus, WIRE was expected to report 2Q20 income of $ 0.70 per share from revenue of $ 283.06 million. The bottom line results missed street analysts by $ 0.1 or 14.29 percent, at the same time, top line results fell short of analysts by $ 29.43 million or 10.4 percent.
Stock Performance
Shares of Encore Wire Corporation traded up $ 0.91 or 1.91 percent on Friday, reaching $ 48.54 with volume of 71.40 thousand shares. Encore Wire Corporation has traded high as $ 48.69 and has cracked $ 47.83 on the downward trend
According to the previous trading day, closing price of $ 48.54, representing a 25.31 % increase from the 52 week low of $ 38.01 and a 23.28 % decrease over the 52 week high of $ 62.08.
The company has a market capital of $ 1.00 billion and is part of the Technology sector and Electronic Components industry.
Recent Stock Dividend Announcement
On August 4, 2020, the board of directors authorized quarterly dividend of $ 0.02 per share to holders of record as of the close of business on October 2, 2020, with payment date of October 16, 2020 and ex-dividend date on October 1, 2020.
Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables 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. The company sells its products to wholesale electrical distributors primarily through independent manufacturers representatives.
