Encore Wire Corporation (WIRE) reported quarterly earnings results on Wednesday, Jul-27-2016. The company reported $0.38 earnings per share for the quarter, missing the analyst consensus estimate by $-0.19. Analysts had a consensus of $0.57. The company posted revenue of $238.80 million in the period, compared to analysts expectations of $241.88 million. The company’s revenue was down -5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Encore Wire Corporation. Singular Research Initiated Encore Wire Corporation on May 31, 2016 to “Buy”, Price Target of the shares are set at $47.
Encore Wire Corporation closed down -4.94 points or -11.36% at $38.54 with 6,45,359 shares getting traded on Thursday. Post opening the session at $42.49, the shares hit an intraday low of $38.05 and an intraday high of $42.49 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Aug 10, 2015, Gregory J Fisher (director) purchased 1,500 shares at $33.30 per share price. According to the SEC, on Aug 7, 2015, Donald Eugene Courtney (director) purchased 5,000 shares at $33.00 per share price. On Mar 3, 2015, William R Iii Thomas (director) purchased 1,000 shares at $37.24 per share price, according to the Form-4 filing with the securities and exchange commission.
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 offers an electrical building wire product line that consists primarily of NM-B cable UF-B cable THHN/THWN-2 and other types of wire products including metal clad and armored cable. All of these products are manufactured with copper or aluminum as the conductor. The principal bases for differentiation among stock-keeping units (SKUs) are product type conductor type diameter insulation color and packaging.