Dycom Industries, Inc. Forecasted to Post FY2023 Earnings of $3.99 Per Share (NYSE:DY)

Dycom Industries, Inc. (NYSE:DYGet Rating) – Investment analysts at DA Davidson raised their FY2023 EPS estimates for shares of Dycom Industries in a research report issued to clients and investors on Wednesday, November 23rd. DA Davidson analyst B. Thielman now forecasts that the construction company will earn $3.99 per share for the year, up from their prior forecast of $3.66. The consensus estimate for Dycom Industries’ current full-year earnings is $3.68 per share. DA Davidson also issued estimates for Dycom Industries’ Q4 2023 earnings at $0.08 EPS and FY2024 earnings at $5.20 EPS.

Dycom Industries (NYSE:DYGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The construction company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.47. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. The business had revenue of $972.30 million for the quarter, compared to analysts’ expectations of $932.37 million. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. StockNews.com assumed coverage on shares of Dycom Industries in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Craig Hallum increased their price objective on shares of Dycom Industries from $121.00 to $133.00 in a research note on Thursday, August 25th. Finally, KeyCorp increased their price objective on shares of Dycom Industries from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Dycom Industries has a consensus rating of “Buy” and a consensus price target of $128.00.

Dycom Industries Stock Performance

NYSE:DY opened at $91.46 on Thursday. The company has a quick ratio of 3.09, a current ratio of 3.21 and a debt-to-equity ratio of 0.94. Dycom Industries has a fifty-two week low of $76.21 and a fifty-two week high of $122.13. The stock has a market cap of $2.69 billion, a PE ratio of 23.21 and a beta of 1.44. The firm’s fifty day simple moving average is $106.30 and its 200-day simple moving average is $101.02.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Dycom Industries by 44.7% in the 1st quarter. Victory Capital Management Inc. now owns 9,667 shares of the construction company’s stock valued at $821,000 after purchasing an additional 2,985 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Dycom Industries during the 1st quarter worth about $4,882,000. Mutual of America Capital Management LLC lifted its holdings in shares of Dycom Industries by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 27,524 shares of the construction company’s stock worth $2,622,000 after acquiring an additional 526 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of Dycom Industries by 21.0% during the 1st quarter. GW&K Investment Management LLC now owns 51,664 shares of the construction company’s stock worth $4,922,000 after acquiring an additional 8,956 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Dycom Industries by 9.3% during the 1st quarter. Principal Financial Group Inc. now owns 846,628 shares of the construction company’s stock worth $80,650,000 after acquiring an additional 71,885 shares during the period. 93.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dycom Industries

In other Dycom Industries news, CAO Sharon Villaverde sold 750 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.01, for a total value of $75,007.50. Following the transaction, the chief accounting officer now directly owns 7,579 shares in the company, valued at approximately $757,975.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Dycom Industries news, CEO Steven E. Nielsen sold 18,611 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $113.60, for a total value of $2,114,209.60. Following the transaction, the chief executive officer now directly owns 689,719 shares in the company, valued at approximately $78,352,078.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sharon Villaverde sold 750 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.01, for a total transaction of $75,007.50. Following the completion of the transaction, the chief accounting officer now owns 7,579 shares in the company, valued at $757,975.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,957 shares of company stock valued at $10,446,088. Insiders own 4.32% of the company’s stock.

Dycom Industries Company Profile

(Get Rating)

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Earnings History and Estimates for Dycom Industries (NYSE:DY)

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