Dycom Industries (NYSE:DY) Releases Earnings Results, Beats Expectations By $1.69 EPS

Dycom Industries (NYSE:DY) issued its quarterly earnings results on Wednesday. The construction company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69, FiscalAI reports. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.

Dycom Industries Stock Performance

NYSE:DY opened at $421.68 on Wednesday. The business has a 50 day moving average of $392.07 and a 200 day moving average of $372.25. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 0.94 and a beta of 1.46. Dycom Industries has a 1-year low of $223.19 and a 1-year high of $464.82. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.74 and a quick ratio of 2.61.

Institutional Trading of Dycom Industries

A number of hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in Dycom Industries in the fourth quarter valued at approximately $30,000. Acumen Wealth Advisors LLC bought a new stake in Dycom Industries in the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its position in Dycom Industries by 73.1% in the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. IFP Advisors Inc lifted its position in Dycom Industries by 400.0% in the third quarter. IFP Advisors Inc now owns 140 shares of the construction company’s stock valued at $41,000 after purchasing an additional 112 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Dycom Industries in the third quarter valued at approximately $75,000. Institutional investors own 98.33% of the company’s stock.

Analyst Ratings Changes

DY has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $436.00 price target on shares of Dycom Industries in a research report on Friday, March 27th. Bank of America lifted their price target on Dycom Industries from $365.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. KeyCorp lifted their price target on Dycom Industries from $426.00 to $482.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. UBS Group set a $475.00 target price on Dycom Industries and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Wall Street Zen downgraded Dycom Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $431.64.

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.