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

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Wall Street analysts expect Dycom Industries, Inc. (NYSE:DY) to report $860.49 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Dycom Industries’ earnings. The lowest sales estimate is $853.70 million and the highest is $874.30 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 firm is expected to report its next earnings results on Wednesday, September 4th.

According to Zacks, analysts expect that Dycom Industries will report full year sales of $3.38 billion for the current year, with estimates ranging from $3.35 billion to $3.42 billion. For the next year, analysts forecast that the firm will report sales of $3.57 billion, with estimates ranging from $3.48 billion to $3.69 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Dycom Industries.

Dycom Industries (NYSE:DY) last posted its quarterly 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 company had revenue of $883.70 million during the quarter, compared to analyst estimates of $771.90 million. During the same period in the prior year, the business posted $0.65 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year.

DY has been the subject of a number of recent analyst reports. Wells Fargo & Co upped their price target on shares of Dycom Industries from $50.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Craig Hallum restated an “in-line” rating and issued a $65.00 price objective (up from $51.00) on shares of Dycom Industries in a report on Wednesday, May 22nd. ValuEngine lowered shares of Dycom Industries from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Zacks Investment Research upgraded shares of Dycom Industries from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Finally, Deutsche Bank upped their price objective on shares of Dycom Industries from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.13.

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Dycom Industries by 262.2% during the 1st quarter. Parallel Advisors LLC now owns 815 shares of the construction company’s stock worth $37,000 after acquiring an additional 590 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Dycom Industries during the second quarter valued at approximately $58,000. Public Employees Retirement System of Ohio raised its position in shares of Dycom Industries by 24.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock valued at $80,000 after buying an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Dycom Industries during the second quarter valued at approximately $145,000. Finally, Pearl River Capital LLC bought a new stake in shares of Dycom Industries during the first quarter valued at approximately $138,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:DY traded down $0.73 during midday trading on Friday, reaching $42.96. 43,453 shares of the stock traded hands, compared to its average volume of 369,083. The company has a fifty day moving average of $52.97 and a 200 day moving average of $52.34. Dycom Industries has a 12 month low of $41.42 and a 12 month high of $85.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.14 and a current ratio of 3.45. The stock has a market capitalization of $1.37 billion, a P/E ratio of 15.45, a PEG ratio of 2.26 and a beta of 1.31.

About Dycom Industries

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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