KeyCorp Comments on Dycom Industries, Inc.’s FY2018 Earnings (DY)

Dycom Industries, Inc. (NYSE:DY) – Analysts at KeyCorp issued their FY2018 earnings per share (EPS) estimates for Dycom Industries in a research note issued on Tuesday. KeyCorp analyst T. Afzal forecasts that the construction company will earn $3.87 per share for the year. KeyCorp currently has a “Overweight” rating and a $123.00 target price on the stock. KeyCorp also issued estimates for Dycom Industries’ Q4 2018 earnings at $0.10 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $1.93 EPS, Q3 2019 earnings at $2.07 EPS, Q4 2019 earnings at $0.95 EPS and FY2019 earnings at $5.67 EPS.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.09. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The business had revenue of $756.20 million for the quarter, compared to analyst estimates of $729.35 million. During the same period last year, the business earned $1.67 EPS. The company’s revenue was down 5.4% on a year-over-year basis.

Several other equities research analysts have also commented on the stock. Stephens lifted their price target on shares of Dycom Industries from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, November 16th. Stifel Nicolaus reiterated a “buy” rating and set a $126.00 price target (up from $120.00) on shares of Dycom Industries in a research note on Monday, December 11th. B. Riley reiterated a “buy” rating and set a $119.00 price target (up from $98.00) on shares of Dycom Industries in a research note on Friday, November 17th. ValuEngine upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, DA Davidson lifted their price objective on shares of Dycom Industries to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Dycom Industries presently has an average rating of “Buy” and an average price target of $121.50.

Shares of Dycom Industries (DY) traded up $0.30 during trading hours on Thursday, reaching $113.26. 178,837 shares of the company traded hands, compared to its average volume of 546,179. Dycom Industries has a 12-month low of $73.95 and a 12-month high of $123.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.86. The firm has a market cap of $3,379.44, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.56 and a beta of 1.36.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Shields Capital Management LLC acquired a new position in shares of Dycom Industries in the third quarter valued at approximately $966,000. Thompson Siegel & Walmsley LLC increased its position in Dycom Industries by 12.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 330,772 shares of the construction company’s stock worth $28,406,000 after purchasing an additional 36,034 shares during the last quarter. State Street Corp increased its position in Dycom Industries by 3.3% during the second quarter. State Street Corp now owns 1,023,232 shares of the construction company’s stock worth $91,602,000 after purchasing an additional 32,975 shares during the last quarter. Strs Ohio increased its position in Dycom Industries by 461.8% during the third quarter. Strs Ohio now owns 15,730 shares of the construction company’s stock worth $1,350,000 after purchasing an additional 12,930 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in Dycom Industries during the third quarter worth approximately $859,000.

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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.

Earnings History and Estimates for Dycom Industries (NYSE:DY)

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