Brokerages expect Dycom Industries, Inc. (NYSE:DY) to announce sales of $719.83 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Dycom Industries’ earnings, with the lowest sales estimate coming in at $703.07 million and the highest estimate coming in at $735.50 million. Dycom Industries posted sales of $655.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Dycom Industries will report full-year sales of $3.10 billion for the current financial year, with estimates ranging from $3.08 billion to $3.11 billion. For the next fiscal year, analysts expect that the business will report sales of $3.41 billion, with estimates ranging from $3.35 billion to $3.47 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Dycom Industries.
Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, November 20th. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The company had revenue of $848.20 million during the quarter, compared to analyst estimates of $806.88 million. Dycom Industries had a net margin of 3.79% and a return on equity of 11.38%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share.
DY has been the subject of several recent research reports. Canaccord Genuity initiated coverage on shares of Dycom Industries in a research report on Wednesday, November 21st. They set a “buy” rating and a $84.00 target price for the company. Wells Fargo & Co cut their target price on shares of Dycom Industries from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, August 30th. B. Riley restated a “neutral” rating and set a $84.00 target price (up from $75.00) on shares of Dycom Industries in a research report on Thursday, September 27th. Zacks Investment Research upgraded shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Craig Hallum lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Dycom Industries currently has a consensus rating of “Buy” and an average target price of $96.70.
A number of large investors have recently modified their holdings of DY. Arizona State Retirement System lifted its holdings in shares of Dycom Industries by 2.8% in the second quarter. Arizona State Retirement System now owns 21,658 shares of the construction company’s stock worth $2,047,000 after buying an additional 589 shares in the last quarter. Cim Investment Mangement Inc. lifted its holdings in shares of Dycom Industries by 33.3% in the second quarter. Cim Investment Mangement Inc. now owns 2,599 shares of the construction company’s stock worth $246,000 after buying an additional 649 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Dycom Industries by 1.1% in the second quarter. Rhumbline Advisers now owns 64,486 shares of the construction company’s stock worth $6,095,000 after buying an additional 676 shares in the last quarter. Montag A & Associates Inc. lifted its holdings in shares of Dycom Industries by 1.2% in the second quarter. Montag A & Associates Inc. now owns 67,713 shares of the construction company’s stock worth $6,400,000 after buying an additional 799 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in shares of Dycom Industries by 8.7% in the third quarter. Harbour Capital Advisors LLC now owns 12,785 shares of the construction company’s stock worth $1,082,000 after buying an additional 1,027 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE DY opened at $56.18 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.78 and a quick ratio of 3.48. The company has a market cap of $1.91 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 2.54 and a beta of 1.44. Dycom Industries has a 12-month low of $55.85 and a 12-month high of $123.99.
Dycom Industries declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 29th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
About Dycom Industries
Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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