Dycom Industries, Inc. (DY) Releases Q4 Earnings Guidance
Dycom Industries, Inc. (NYSE:DY) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.43-0.50 for the period, compared to the Thomson Reuters consensus estimate of $0.49, American Banking & Market News reports. The company issued revenue guidance of $475-495 million, compared to the consensus revenue estimate of $489.28 million.
A number of analysts have recently weighed in on DY shares. Analysts at Zacks downgraded shares of Dycom Industries from a neutral rating to an underperform rating in a research note on Friday, March 28th. They now have a $28.00 price target on the stock. On a related note, analysts at Craig Hallum upgraded shares of Dycom Industries from a hold rating to a buy rating in a research note on Thursday, February 27th. They now have a $36.00 price target on the stock, up previously from $26.00. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Dycom Industries currently has a consensus rating of Buy and a consensus price target of $31.79.
Dycom Industries, Inc. (NYSE:DY) traded down 3.18% on Tuesday, hitting $31.66. The stock had a trading volume of 452,166 shares. Dycom Industries, Inc. has a one year low of $19.98 and a one year high of $34.00. The stock has a 50-day moving average of $31.71 and a 200-day moving average of $29.28. The company has a market cap of $1.070 billion and a price-to-earnings ratio of 30.08.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, May 20th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.01. The company had revenue of $426.30 million for the quarter, compared to the consensus estimate of $429.56 million. During the same quarter last year, the company posted $0.21 earnings per share. Dycom Industries’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Dycom Industries, Inc. will post $1.18 earnings per share for the current fiscal year.
Dycom Industries, Inc is a provider of specialty contracting services. The services, which are provided throughout the United States and in Canada, include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities and others.
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