Dycom Industries, Inc. (NYSE:DY) – DA Davidson boosted their FY2020 earnings per share estimates for Dycom Industries in a research note issued on Monday. DA Davidson analyst B. Thielman now expects that the construction company will post earnings of $6.61 per share for the year, up from their prior forecast of $6.30. DA Davidson currently has a “Neutral” rating and a $100.00 price target on the stock.
A number of other research firms also recently issued reports on DY. Craig Hallum restated a “buy” rating and set a $129.00 price target (up previously from $114.00) on shares of Dycom Industries in a research note on Tuesday. B. Riley dropped their price target on Dycom Industries from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $126.00 price target (up previously from $120.00) on shares of Dycom Industries in a research note on Monday, December 11th. Wells Fargo & Co restated an “outperform” rating and set a $109.00 price target (up previously from $88.00) on shares of Dycom Industries in a research note on Tuesday, November 21st. Finally, Zacks Investment Research upgraded Dycom Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $119.90.
Dycom Industries (NYSE:DY) last released its quarterly earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.09. The firm had revenue of $756.20 million for the quarter, compared to the consensus estimate of $729.35 million. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS.
Institutional investors have recently bought and sold shares of the business. Fred Alger Management Inc. acquired a new stake in shares of Dycom Industries in the 4th quarter valued at approximately $28,076,000. SG Capital Management LLC acquired a new stake in shares of Dycom Industries in the 3rd quarter valued at approximately $15,925,000. Peregrine Capital Management LLC acquired a new stake in shares of Dycom Industries in the 4th quarter valued at approximately $18,241,000. Alliancebernstein L.P. lifted its holdings in shares of Dycom Industries by 15.1% in the 4th quarter. Alliancebernstein L.P. now owns 1,025,193 shares of the construction company’s stock valued at $114,237,000 after buying an additional 134,410 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in shares of Dycom Industries by 166.0% in the 4th quarter. Guggenheim Capital LLC now owns 158,055 shares of the construction company’s stock valued at $17,613,000 after buying an additional 98,640 shares during the period.
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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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