Dycom Industries (NYSE:DY) Announces Earnings Results, Beats Expectations By $1.03 EPS

Dycom Industries (NYSE:DY – Get Rating) released its quarterly earnings data on Wednesday. The construction company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $1.03, Briefing.com reports. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $940.22 million. Dycom Industries had a net margin of 4.38% and a return on equity of 19.99%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share.

Dycom Industries Price Performance

Shares of DY stock opened at $100.50 on Friday. The firm’s 50-day moving average is $93.81 and its two-hundred day moving average is $93.67. The company has a market capitalization of $2.95 billion, a PE ratio of 17.27 and a beta of 1.30. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.43 and a quick ratio of 2.93. Dycom Industries has a 12 month low of $77.33 and a 12 month high of $122.13.

Insider Activity

In other Dycom Industries news, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total value of $313,170.00. Following the sale, the vice president now owns 26,242 shares of the company’s stock, valued at $2,490,365.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Ryan F. Urness sold 3,300 shares of Dycom Industries stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total value of $313,170.00. Following the completion of the transaction, the vice president now owns 26,242 shares in the company, valued at $2,490,365.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO H Andrew Deferrari sold 10,282 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $94.11, for a total transaction of $967,639.02. Following the sale, the chief financial officer now directly owns 148,425 shares in the company, valued at $13,968,276.75. The disclosure for this sale can be found here. Corporate insiders own 4.25% of the company’s stock.

Institutional Trading of Dycom Industries

Large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in Dycom Industries by 114.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock worth $45,000 after acquiring an additional 261 shares in the last quarter. SkyView Investment Advisors LLC acquired a new position in shares of Dycom Industries in the 1st quarter valued at $173,000. Captrust Financial Advisors grew its position in shares of Dycom Industries by 61.8% in the 1st quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock valued at $188,000 after buying an additional 754 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Dycom Industries by 32.2% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,023 shares of the construction company’s stock worth $190,000 after acquiring an additional 493 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Dycom Industries in the first quarter valued at $210,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on DY. StockNews.com began coverage on Dycom Industries in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. UBS Group lifted their target price on shares of Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Wells Fargo & Company raised shares of Dycom Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $120.00 in a research note on Thursday. Finally, Craig Hallum upped their price objective on shares of Dycom Industries from $110.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $128.80.

Dycom Industries Company Profile

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.