Zacks: Brokerages Expect Dycom Industries, Inc. (DY) Will Post Earnings of $1.44 Per Share
Analysts forecast that Dycom Industries, Inc. (NYSE:DY) will post earnings per share (EPS) of $1.44 for the current quarter, Zacks reports. Six analysts have made estimates for Dycom Industries’ earnings. The lowest EPS estimate is $1.41 and the highest is $1.45. Dycom Industries posted earnings per share of $1.64 during the same quarter last year, which would indicate a negative year over year growth rate of 12.2%. The company is scheduled to announce its next quarterly earnings report on Tuesday, August 22nd.
On average, analysts expect that Dycom Industries will report full-year earnings of $5.23 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.25. For the next financial year, analysts forecast that the business will report earnings of $5.31 per share, with EPS estimates ranging from $4.94 to $5.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Dycom Industries.
Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.11. The business had revenue of $786.30 million during the quarter, compared to the consensus estimate of $736.20 million. Dycom Industries had a net margin of 5.30% and a return on equity of 28.96%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share.
Several analysts have recently commented on DY shares. ValuEngine upgraded Dycom Industries from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. Wells Fargo & Company restated an “overweight” rating on shares of Dycom Industries in a report on Wednesday, April 19th. Zacks Investment Research cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $120.00 target price (up previously from $112.00) on shares of Dycom Industries in a report on Saturday, April 22nd. Finally, Canaccord Genuity restated a “buy” rating and set a $52.00 target price on shares of Dycom Industries in a report on Thursday, May 25th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Dycom Industries has a consensus rating of “Buy” and an average target price of $102.09.
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Dycom Industries (NYSE DY) traded down 0.41% during midday trading on Friday, reaching $84.21. 660,809 shares of the company traded hands. Dycom Industries has a 12-month low of $70.33 and a 12-month high of $110.64. The company has a 50-day moving average price of $90.07 and a 200-day moving average price of $91.52. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 16.56 and a beta of 1.18.
Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new position in Dycom Industries during the first quarter valued at about $121,000. GW&K Investment Management LLC purchased a new position in Dycom Industries during the second quarter valued at about $2,988,000. EULAV Asset Management purchased a new position in Dycom Industries during the first quarter valued at about $1,162,000. Norges Bank purchased a new position in Dycom Industries during the fourth quarter valued at about $12,808,000. Finally, Atria Investments LLC purchased a new position in Dycom Industries during the first quarter valued at about $226,000.
About Dycom Industries
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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