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WIRE

Encore Wire Corp.

encore wire (www.encorewire.com) is a leading manufacturer of residential, commercial and industrial copper and aluminum electrical building wire. encore wire’s 425-acre single-campus and over 2.1 million sq. ft. under roof allows for deep inventory levels and unmatched delivery times. our innovative wire pulling solutions, award-winning colored wire and metal-clad and armored clad smartcolorid identification system promote cost and labor savings and safety.

Open

289.91

Mkt cap

4.6B

Volume

1.4M

High

289.99

P/E Ratio

15.22

52-wk high

295.90

Low

289.81

Div yield

0.00

52-wk low

150.51

Protagonist Therapeutics (PTGX) will join the S&P SmallCap 600, replacing Encore Wire (WIRE) effective prior to the opening of trading on July 3. Encore Wire is being acquired by Prysmian SpA, pending final conditions.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 9:21 pm

Encore Wire is focusing on long-term business opportunities while managing near-term challenges. The company anticipates capital expenditures of $130-$150 million in 2024 and 2025, and $100-$120 million in 2026.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 9:35 pm

Encore Wire (NASDAQ:WIRE) reported Q1 2024 earnings of $3.92 per share, surpassing the $3.65 estimate, with sales of $632.661M also beating the $589.846M estimate. However, this represents a 39.69% decrease in earnings and a 4.21% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 9:32 pm

CJS Securities analyst Christopher Moore downgrades Encore Wire (NASDAQ:WIRE) from Market Outperform to Market Perform, indicating a neutral outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:31 pm

Sidoti & Co. analyst Julio Romero downgraded Encore Wire (NASDAQ:WIRE) from Buy to Neutral and set a price target of $290.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:10 pm

DA Davidson analyst Brent Thielman downgraded Encore Wire (NASDAQ:WIRE) from Buy to Neutral while maintaining a $295 price target.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 10:42 am

In Monday's intraday session, several industrials stocks experienced significant movements. SES AI, Shimmick, Encore Wire, JE Cleantech Hldgs, Skillsoft, and Exela Technologies were among the gainers, with SES AI leading at a 14.4% increase. On the downside, Swvl Hldgs, Complete Solaria, Surf Air Mobility, Virco Mfg, Solidion Technology, and Guardforce AI Co saw notable declines, with Swvl Hldgs dropping by 31.4%. Skillsoft's rise was attributed to its Q4 earnings report, while Virco Mfg's decline followed its Q4 earnings release.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:31 pm

M&T Bank Corporation reported Q1 earnings with a slight revenue miss and EPS in line with consensus, causing its shares to surge 5.4%. Other stocks like Snap One Holdings and Encore Wire also saw significant gains due to acquisition news, while companies like Medical Properties Trust and BRF S.A. experienced price increases following strategic moves and upgrades. The overall market sentiment was positive, with the Dow Jones index gaining over 100 points.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 2:44 pm

Encore Wire Corporation (NASDAQ:WIRE) has agreed to be acquired by Prysmian S.P.A. (OTC:PRYMF) for $290.00 per share in cash, a premium of around 20% to the 30-day VWAP and 29% to the 90-day VWAP as of April 12, 2024. The deal, valued at approximately €3.9 billion, represents multiples of 8.2x and 6.3x EV/2023A EBITDA, with and without run-rate synergies, respectively. The acquisition, expected to close in the second half of 2024, is anticipated to generate €140 million in EBITDA synergies within four years. Investors can gain exposure to Encore Wire through ETFs like MVPA and ZIG.

Portfolio Pulse from Lekha Gupta

April 15, 2024 | 11:22 am

Encore Wire's stock is trading higher following the announcement of its acquisition by Prysmian for $290 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:19 am

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