Dycom Industries, Inc. (DY) Expected to Post Quarterly Sales of $729.49 Million
Analysts forecast that Dycom Industries, Inc. (NYSE:DY) will post sales of $729.49 million for the current quarter, according to Zacks. Six analysts have made estimates for Dycom Industries’ earnings, with the highest sales estimate coming in at $737.00 million and the lowest estimate coming in at $720.40 million. Dycom Industries reported sales of $799.22 million in the same quarter last year, which would suggest a negative year over year growth rate of 8.7%. The business is expected to announce its next quarterly earnings report on Monday, November 20th.
On average, analysts expect that Dycom Industries will report full-year sales of $729.49 million for the current financial year, with estimates ranging from $2.99 billion to $3.12 billion. For the next financial year, analysts expect that the business will report sales of $3.33 billion per share, with estimates ranging from $3.21 billion to $3.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Dycom Industries.
Dycom Industries (NYSE:DY) last released its earnings results on Wednesday, August 30th. The construction company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.03. The firm had revenue of $780.20 million for the quarter, compared to the consensus estimate of $798.62 million. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS.
Several equities research analysts recently commented on the stock. Deutsche Bank AG assumed coverage on shares of Dycom Industries in a research note on Tuesday, September 26th. They set a “buy” rating and a $103.00 price target on the stock. BidaskClub downgraded shares of Dycom Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. FBR & Co restated an “outperform” rating on shares of Dycom Industries in a research note on Monday, June 19th. Canaccord Genuity decreased their price objective on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 31st. Finally, Craig Hallum reaffirmed a “buy” rating and set a $90.00 price objective (down previously from $115.00) on shares of Dycom Industries in a report on Thursday, August 31st. They noted that the move was a valuation call. One research 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. The company has an average rating of “Buy” and an average price target of $105.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pacad Investment Ltd. raised its holdings in shares of Dycom Industries by 71.4% in the second quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock valued at $107,000 after buying an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Dycom Industries by 6.6% during the second quarter. Public Employees Retirement System of Ohio now owns 1,298 shares of the construction company’s stock worth $116,000 after buying an additional 80 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Dycom Industries by 96.0% during the second quarter. Riverhead Capital Management LLC now owns 1,764 shares of the construction company’s stock worth $158,000 after buying an additional 864 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Dycom Industries by 257.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,146 shares of the construction company’s stock worth $192,000 after buying an additional 1,546 shares during the period. Finally, Sigma Planning Corp acquired a new stake in shares of Dycom Industries during the second quarter worth about $211,000.
Shares of Dycom Industries (DY) opened at 85.15 on Tuesday. Dycom Industries has a 12 month low of $70.33 and a 12 month high of $110.64. The firm has a market cap of $2.65 billion, a PE ratio of 17.31 and a beta of 1.29. The firm’s 50-day moving average price is $80.66 and its 200-day moving average price is $90.65.
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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.
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