Equities analysts forecast that Dycom Industries, Inc. (NYSE:DY) will announce earnings of $1.18 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Dycom Industries’ earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.20. Dycom Industries posted earnings of $1.47 per share during the same quarter last year, which indicates a negative year over year growth rate of 19.7%. The business is expected to announce its next quarterly earnings report on Wednesday, August 29th.
According to Zacks, analysts expect that Dycom Industries will report full year earnings of $4.63 per share for the current financial year, with EPS estimates ranging from $4.50 to $4.75. For the next year, analysts anticipate that the company will post earnings of $6.29 per share, with EPS estimates ranging from $5.80 to $6.85. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Dycom Industries.
Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Tuesday, May 22nd. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.04). The company had revenue of $731.40 million during the quarter, compared to analyst estimates of $734.89 million. Dycom Industries had a net margin of 4.44% and a return on equity of 14.59%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS.
A number of equities analysts recently weighed in on DY shares. Stifel Nicolaus reduced their price target on Dycom Industries from $126.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Zacks Investment Research raised Dycom Industries from a “sell” rating to a “hold” rating in a report on Monday, August 6th. Craig Hallum reduced their price target on Dycom Industries from $129.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. KeyCorp reduced their price target on Dycom Industries from $123.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 23rd. Finally, B. Riley reduced their price target on Dycom Industries from $137.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $115.45.
In other Dycom Industries news, Director Richard K. Sykes purchased 2,000 shares of Dycom Industries stock in a transaction that occurred on Wednesday, May 30th. The stock was bought at an average price of $94.81 per share, with a total value of $189,620.00. Following the acquisition, the director now owns 3,934 shares of the company’s stock, valued at approximately $372,982.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.39% of the company’s stock.
Several institutional investors have recently made changes to their positions in DY. Carillon Tower Advisers Inc. acquired a new position in shares of Dycom Industries during the first quarter valued at approximately $20,751,000. American Century Companies Inc. raised its holdings in shares of Dycom Industries by 87.9% during the first quarter. American Century Companies Inc. now owns 275,114 shares of the construction company’s stock valued at $29,611,000 after acquiring an additional 128,713 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of Dycom Industries during the second quarter valued at approximately $11,061,000. Delek Group Ltd. acquired a new position in shares of Dycom Industries during the second quarter valued at approximately $10,396,000. Finally, Schroder Investment Management Group raised its holdings in shares of Dycom Industries by 10.6% during the first quarter. Schroder Investment Management Group now owns 548,559 shares of the construction company’s stock valued at $59,041,000 after acquiring an additional 52,486 shares during the last quarter.
NYSE DY traded down $0.09 during trading hours on Friday, reaching $89.71. The company’s stock had a trading volume of 382,442 shares, compared to its average volume of 451,018. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.57 and a beta of 1.29. Dycom Industries has a 1-year low of $73.95 and a 1-year high of $123.99. The company has a current ratio of 3.39, a quick ratio of 3.09 and a debt-to-equity ratio of 0.98.
Dycom Industries Company Profile
Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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