Dycom Industries (NYSE:DY) Posts Earnings Results

Dycom Industries (NYSE:DY) issued its quarterly earnings data on Wednesday. The construction company reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.72 by $0.57, FiscalAI reports. Dycom Industries had a return on equity of 24.13% and a net margin of 4.98%. Dycom Industries updated its Q3 2027 guidance to 4.330-4.790 EPS.

Dycom Industries Stock Down 7.0%

NYSE DY opened at $354.42 on Wednesday. The stock has a fifty day moving average of $427.20 and a 200-day moving average of $415.67. The stock has a market capitalization of $10.64 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.54. Dycom Industries has a 52 week low of $242.55 and a 52 week high of $566.47. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.46 and a current ratio of 2.58.

Key Stories Impacting Dycom Industries

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Strong quarterly beat: Adjusted EPS was $5.29, exceeding the $4.72 consensus estimate, while contract revenue rose 45.6% year over year to $2.006 billion. Adjusted EBITDA reached $315.5 million, or 15.7% of revenue. Dycom Industries Reports Record Fiscal 2027 Second Quarter Results
• Positive Sentiment: Backlog and outlook remain robust: Total backlog increased 53.2% to $12.242 billion, supported by demand for fiber deployment and data-center infrastructure. Dycom raised fiscal 2027 revenue guidance to $7.5 billion-$7.7 billion, broadly in line with the $7.6 billion analyst consensus, and completed its acquisition of National Technology Integrators. Dycom Earnings and Guidance
• Neutral Sentiment: Routine board change: Director Jennifer Fritzsche resigned, and Dycom announced a related board change. The announcement did not indicate a strategic or operational shift. Dycom Announces Routine Board Change
• Negative Sentiment: Third-quarter guidance fell short on EPS: Dycom forecast adjusted EPS of $4.33-$4.79, with a $4.56 midpoint below the $4.68 consensus estimate. Revenue guidance of $1.9 billion-$2.0 billion was generally consistent with expectations, but the earnings outlook leaves limited room for disappointment.
• Negative Sentiment: High expectations amplified selling pressure: Shares had already declined ahead of the report as investors reduced risk and locked in gains. Although the results were strong, the quarterly EPS outlook and in-line full-year revenue guidance may not have been sufficient to justify the stock’s previously elevated valuation.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DY. KeyCorp lifted their price target on shares of Dycom Industries from $482.00 to $610.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Zacks Research lowered shares of Dycom Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Guggenheim lifted their target price on shares of Dycom Industries from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company boosted their target price on Dycom Industries from $500.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Wedbush set a $654.00 target price on Dycom Industries in a report on Friday, May 29th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Moderate Buy” and an average price target of $578.09.

Hedge Funds Weigh In On Dycom Industries

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in Dycom Industries during the 4th quarter worth about $1,150,000. Axxcess Wealth Management LLC bought a new position in shares of Dycom Industries in the 4th quarter valued at about $2,332,000. Mercer Global Advisors Inc. ADV grew its position in shares of Dycom Industries by 10.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,769 shares of the construction company’s stock worth $936,000 after buying an additional 269 shares during the period. State of Tennessee Department of Treasury grew its position in shares of Dycom Industries by 13.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 15,630 shares of the construction company’s stock worth $5,695,000 after buying an additional 1,878 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Dycom Industries during the fourth quarter worth approximately $371,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.