Dycom Industries, Inc. (NYSE:DY) Expected to Post Earnings of $0.84 Per Share

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Wall Street analysts forecast that Dycom Industries, Inc. (NYSE:DY) will announce earnings of $0.84 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Dycom Industries’ earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $0.90. Dycom Industries reported earnings of $1.05 per share in the same quarter last year, which would suggest a negative year over year growth rate of 20%. The business is expected to issue its next earnings results on Wednesday, September 4th.

According to Zacks, analysts expect that Dycom Industries will report full-year earnings of $2.57 per share for the current year, with EPS estimates ranging from $2.50 to $2.65. For the next financial year, analysts anticipate that the firm will post earnings of $3.36 per share, with EPS estimates ranging from $3.11 to $3.48. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Dycom Industries.

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

A number of research firms recently weighed in on DY. Craig Hallum reissued an “in-line” rating and set a $65.00 target price (up from $51.00) on shares of Dycom Industries in a research 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. Deutsche Bank upped their target price on shares of Dycom Industries from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Zacks Investment Research raised shares of Dycom Industries from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Canaccord Genuity reduced their price objective on shares of Dycom Industries from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $62.13.

A number of hedge funds and other institutional investors have recently made changes to their positions in DY. Two Sigma Advisers LP acquired a new stake in Dycom Industries in the fourth quarter valued at approximately $481,000. Legal & General Group Plc raised its stake in Dycom Industries by 3.2% during the fourth quarter. Legal & General Group Plc now owns 31,516 shares of the construction company’s stock worth $1,703,000 after buying an additional 970 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in 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 worth $80,000 after buying an additional 288 shares during the last quarter. Norges Bank bought a new position in Dycom Industries during the fourth quarter worth $13,149,000. Finally, Geode Capital Management LLC increased its stake in Dycom Industries by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 334,030 shares of the construction company’s stock valued at $18,050,000 after purchasing an additional 32,220 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Shares of Dycom Industries stock traded down $0.73 during trading on Thursday, reaching $42.96. The company’s stock had a trading volume of 43,453 shares, compared to its average volume of 369,083. 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 business’s fifty day moving average price is $52.97 and its 200-day moving average price is $52.34. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 2.26 and a beta of 1.31. Dycom Industries has a one year low of $41.42 and a one year high of $85.65.

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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