Analysts Anticipate Dycom Industries, Inc. (NYSE:DY) Will Announce Quarterly Sales of $798.76 Million
Wall Street analysts expect Dycom Industries, Inc. (NYSE:DY) to post sales of $798.76 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Dycom Industries’ earnings, with estimates ranging from $787.64 million to $809.60 million. Dycom Industries reported sales of $789.16 million in the same quarter last year, which suggests a positive year over year growth rate of 1.2%. The business is expected to issue its next quarterly earnings results on Tuesday, August 22nd.
According to Zacks, analysts expect that Dycom Industries will report full year sales of $798.76 million for the current financial year, with estimates ranging from $3.07 billion to $3.10 billion. For the next year, analysts forecast that the business will post sales of $3.21 billion per share, with estimates ranging from $3.11 billion to $3.31 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Dycom Industries.
Dycom Industries (NYSE:DY) last issued its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. Dycom Industries had a return on equity of 28.96% and a net margin of 5.30%. The firm had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year.
A number of equities research analysts have weighed in on DY shares. BidaskClub downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research cut Dycom Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. FBR & Co reiterated an “outperform” rating on shares of Dycom Industries in a research note on Monday, June 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $120.00 price target (up from $112.00) on shares of Dycom Industries in a research note on Saturday, April 22nd. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Dycom Industries in a research note on Wednesday, April 19th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $102.09.
Shares of Dycom Industries (NYSE:DY) traded up 1.30% during trading on Wednesday, reaching $87.32. The company’s stock had a trading volume of 264,957 shares. Dycom Industries has a 52-week low of $70.33 and a 52-week high of $110.64. The firm’s 50-day moving average is $89.08 and its 200 day moving average is $90.90. The company has a market cap of $2.71 billion, a PE ratio of 17.17 and a beta of 1.19.
Hedge funds have recently modified their holdings of the company. Beech Hill Advisors Inc. purchased a new stake in shares of Dycom Industries during the second quarter valued at approximately $233,000. Louisiana State Employees Retirement System boosted its position in Dycom Industries by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the construction company’s stock valued at $725,000 after buying an additional 200 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Dycom Industries by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 4,230 shares of the construction company’s stock valued at $379,000 after buying an additional 100 shares in the last quarter. LS Investment Advisors LLC boosted its position in Dycom Industries by 16.0% in the second quarter. LS Investment Advisors LLC now owns 2,439 shares of the construction company’s stock valued at $218,000 after buying an additional 337 shares in the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new position in Dycom Industries during the second quarter valued at approximately $5,185,000.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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