$860.49 Million in Sales Expected for Dycom Industries, Inc. (NYSE:DY) This Quarter

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Analysts expect that Dycom Industries, Inc. (NYSE:DY) will announce sales of $860.49 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Dycom Industries’ earnings. The highest sales estimate is $874.30 million and the lowest is $853.70 million. Dycom Industries posted sales of $799.47 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.6%. The business is expected to announce its next quarterly earnings report on Wednesday, September 4th.

On average, analysts expect that Dycom Industries will report full year sales of $3.38 billion for the current financial year, with estimates ranging from $3.35 billion to $3.42 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.57 billion, with estimates ranging from $3.48 billion to $3.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Dycom Industries.

Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, May 21st. The construction company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.10. Dycom Industries had a net margin of 1.86% and a return on equity of 10.52%. The business had revenue of $883.70 million for the quarter, compared to the consensus estimate of $771.90 million. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year.

DY has been the topic of several analyst reports. Stephens dropped their price target on shares of Dycom Industries from $130.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, March 4th. Craig Hallum cut their price objective on shares of Dycom Industries from $75.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, February 28th. Zacks Investment Research upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Canaccord Genuity dropped their price target on shares of Dycom Industries from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. They noted that the move was a valuation call. Finally, DA Davidson dropped their price target on shares of Dycom Industries from $77.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.13.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Dycom Industries in the fourth quarter valued at about $13,149,000. Wellington Management Group LLP bought a new stake in Dycom Industries during the first quarter worth $10,262,000. Millennium Management LLC grew its holdings in Dycom Industries by 3,550.6% during the fourth quarter. Millennium Management LLC now owns 193,301 shares of the construction company’s stock worth $10,446,000 after buying an additional 188,006 shares in the last quarter. Boston Partners bought a new stake in Dycom Industries during the first quarter worth $5,837,000. Finally, Dimensional Fund Advisors LP grew its holdings in Dycom Industries by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,138,801 shares of the construction company’s stock worth $52,316,000 after buying an additional 116,864 shares in the last quarter. Institutional investors and hedge funds own 93.75% of the company’s stock.

Shares of DY stock traded up $1.21 during mid-day trading on Monday, reaching $54.14. The company’s stock had a trading volume of 15,232 shares, compared to its average volume of 637,206. Dycom Industries has a 12-month low of $41.78 and a 12-month high of $100.76. The company has a current ratio of 3.45, a quick ratio of 3.14 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.69 billion, a PE ratio of 19.46, a P/E/G ratio of 2.79 and a beta of 1.32.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. 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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Earnings History and Estimates for Dycom Industries (NYSE:DY)

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