Wall Street brokerages expect that Dycom Industries, Inc. (NYSE:DY) will report $735.96 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Dycom Industries’ earnings. The lowest sales estimate is $733.30 million and the highest is $740.00 million. Dycom Industries reported sales of $786.34 million in the same quarter last year, which indicates a negative year over year growth rate of 6.4%. The business is expected to report its next earnings report on Wednesday, May 23rd.
According to Zacks, analysts expect that Dycom Industries will report full year sales of $3.38 billion for the current year, with estimates ranging from $3.31 billion to $3.41 billion. For the next financial year, analysts forecast that the business will post sales of $3.76 billion per share, with estimates ranging from $3.63 billion to $3.89 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Dycom Industries.
Dycom Industries (NYSE:DY) last released its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Dycom Industries had a return on equity of 18.67% and a net margin of 5.08%. The business had revenue of $655.13 million during the quarter, compared to analyst estimates of $655.72 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. Dycom Industries’s revenue for the quarter was down 6.6% on a year-over-year basis.
Several equities analysts have recently commented on the company. Zacks Investment Research downgraded Dycom Industries from a “buy” rating to a “hold” rating in a research report on Thursday, March 15th. B. Riley boosted their price objective on Dycom Industries from $132.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Wells Fargo boosted their price objective on Dycom Industries from $108.50 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Craig Hallum restated a “buy” rating and issued a $129.00 price objective (up from $114.00) on shares of Dycom Industries in a research report on Tuesday, February 13th. Finally, Canaccord Genuity restated a “buy” rating and issued a $125.00 price objective (up from $110.00) on shares of Dycom Industries in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Dycom Industries presently has an average rating of “Buy” and an average price target of $122.00.
In related news, Director Patricia Higgins sold 2,604 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $109.08, for a total value of $284,044.32. Following the sale, the director now directly owns 30,246 shares in the company, valued at $3,299,233.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.35% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. First Personal Financial Services increased its stake in Dycom Industries by 214.3% during the fourth quarter. First Personal Financial Services now owns 1,075 shares of the construction company’s stock worth $120,000 after acquiring an additional 733 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dycom Industries by 55.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,529 shares of the construction company’s stock worth $170,000 after acquiring an additional 545 shares during the last quarter. Howe & Rusling Inc. increased its stake in Dycom Industries by 3,671.1% during the fourth quarter. Howe & Rusling Inc. now owns 1,697 shares of the construction company’s stock worth $189,000 after acquiring an additional 1,652 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Dycom Industries during the fourth quarter worth approximately $214,000. Finally, Stone Ridge Asset Management LLC bought a new stake in Dycom Industries during the fourth quarter worth approximately $224,000.
NYSE:DY traded down $1.17 during mid-day trading on Friday, hitting $107.97. 286,006 shares of the company traded hands, compared to its average volume of 455,158. Dycom Industries has a one year low of $73.95 and a one year high of $123.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16. The firm has a market capitalization of $3,339.61, a PE ratio of 27.60, a P/E/G ratio of 1.52 and a beta of 1.46.
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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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