Analysts Set Expectations for Dycom Industries, Inc.’s Q2 2024 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY – Get Rating) – Stock analysts at B. Riley increased their Q2 2024 earnings per share estimates for Dycom Industries in a research note issued on Thursday, May 25th. B. Riley analyst A. Rygiel now expects that the construction company will post earnings of $1.76 per share for the quarter, up from their prior estimate of $1.57. The consensus estimate for Dycom Industries’ current full-year earnings is $5.37 per share. B. Riley also issued estimates for Dycom Industries’ Q3 2024 earnings at $1.78 EPS and Q4 2024 earnings at $0.89 EPS.

DY has been the topic of several other research reports. UBS Group boosted their price target on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. StockNews.com assumed coverage on shares of Dycom Industries in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Wells Fargo & Company upgraded shares of Dycom Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Thursday. Finally, Craig Hallum increased their price objective on shares of Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $128.80.

Dycom Industries Price Performance

NYSE DY opened at $100.50 on Friday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 21.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.18 and a quick ratio of 2.93. The stock’s fifty day moving average price is $93.81 and its 200 day moving average price is $93.67. Dycom Industries has a 1 year low of $77.33 and a 1 year high of $122.13.

Dycom Industries (NYSE:DY – Get Rating) last released its earnings results on Wednesday, May 24th. The construction company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $1.03. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $940.22 million. Dycom Industries had a net margin of 3.73% and a return on equity of 16.43%. Dycom Industries’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS.

Insider Transactions at Dycom Industries

In related news, VP Ryan F. Urness sold 3,300 shares of the stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total transaction of $313,170.00. Following the sale, the vice president now directly owns 26,242 shares of the company’s stock, valued at $2,490,365.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO H Andrew Deferrari sold 10,282 shares of Dycom Industries stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.11, for a total value of $967,639.02. Following the sale, the chief financial officer now owns 148,425 shares of the company’s stock, valued at approximately $13,968,276.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ryan F. Urness sold 3,300 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total transaction of $313,170.00. Following the completion of the sale, the vice president now directly owns 26,242 shares of the company’s stock, valued at approximately $2,490,365.80. The disclosure for this sale can be found here. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds have recently made changes to their positions in DY. BlackRock Inc. increased its position in shares of Dycom Industries by 40.1% during the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock worth $434,502,000 after purchasing an additional 1,327,595 shares in the last quarter. Vanguard Group Inc. boosted its stake in Dycom Industries by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock worth $263,040,000 after purchasing an additional 18,125 shares during the last quarter. Peconic Partners LLC grew its holdings in shares of Dycom Industries by 8.8% during the third quarter. Peconic Partners LLC now owns 2,481,987 shares of the construction company’s stock worth $237,104,000 after buying an additional 199,950 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Dycom Industries by 43.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock valued at $161,814,000 after buying an additional 524,292 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Dycom Industries by 9.2% in the first quarter. Principal Financial Group Inc. now owns 1,140,281 shares of the construction company’s stock worth $106,787,000 after buying an additional 96,268 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

About Dycom Industries

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.