Earnings from Encore Wire Corporation [WIRE] are scheduled on April 26, 2021, after the market closes. It is expected that the company will report weak earnings for the quarter ending Mar 2021.
WIRE Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $0.87 per share on revenue of $384.57M. Taking a look at the future, the company is projected to report revenue of $386.68M at an earnings per share of $0.97 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 2.80% in revenue and 8.71% in earnings per share for the company.
WIRE Stock Earnings Forecast For The Current Year
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For the full financial year, Encore Wire Corporation [NASDAQ:WIRE] is forecasted to generate revenue of $1.57B. The figure is about $290.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $3.85 in 2021, which is $0.17 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 4.60% this year, 8.60% next year, and 10.00% annually over the next five years. With regard to sales, forecasts suggest an incline of 23.30% in current fiscal year and 2.80% over following year.
WIRE Stock Price Performance
At a last check today, Encore Wire Corporation [NASDAQ:WIRE] finished up 2.48% at $73.65. The stock’s day high price was $72.55, and its lowest was $70.75. Its price rose 1.40% in the last five days. Since the beginning of the year, Encore Wire Corporation’s shares are up nearly 18.66%. However, the share price is 0.48% below its one year high. The top price reached by the shares of the company was $73.29 on 03/18/21, while the 52-week low came on 01/27/21, when the shares were $56.27. In the past year, shares of the company have risen 63.42%. At 50 days, the moving average achieved is $68.52 while at 200 days, the moving average is $56.81. There were 17866.0 shares traded in the last session, down from 0.1 million in the previous session.
Encore Wire Corporation [NASDAQ:WIRE] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 19.52, Encore Wire Corporation [WIRE] does qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a discount to the industry average of 27.29 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.14 PS value ratio is reported for the last one year of reported earnings. This is below the average return 1.56 for the industry, which means WIRE offers an attractive investment opportunity than its competitors do.
WIRE Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 73.32 level, and the violation of this level will cause a further drop to 70.90 level. At the upper end, 74.50 remains a key resistance. As the stock increases, it may find resistance at 73.52. In the 14-day chart, the Relative Strength Index standing at 64.05 suggests a technical neutral stance while the MACD standing at 1.37 indicates price will increase in the next trading period. Stochastic %K at 82.84% suggests selling the stock while Percent R indicator at 6.20% suggests bullish price movement.
How do analysts view Encore Wire Corporation?
In regard to the share price forecast for Encore Wire Corporation stock, the analysts, as surveyed by FactSet, forecast the price to reach $75.00 in the next twelve months, representing almost an 1.8% growth from its recent price of $73.65. Among Encore Wire Corporation stock projections, $80.00 is the highest analyst target for the stock, while $70.00 is the lowest. Despite this, 2 analysts who share their consensus rating for WIRE in 2021 agree that the stock is an Overweight. The latest rating change took place on 1/21/21, when Sidoti & Co. Ratings downgraded the stock from “Buy” to “Neutral.”