Dycom Industries (NYSE:DY) Issues Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Dycom Industries (NYSE:DY) announced its quarterly earnings data on Tuesday. The construction company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.26, Briefing.com reports. Dycom Industries had a return on equity of 5.95% and a net margin of 1.59%. The company had revenue of $854.00 million for the quarter, compared to analyst estimates of $815.89 million. During the same quarter in the previous year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year.

Shares of NYSE DY traded down $0.94 during mid-day trading on Thursday, reaching $98.97. 858,474 shares of the company traded hands, compared to its average volume of 365,079. Dycom Industries has a fifty-two week low of $61.50 and a fifty-two week high of $105.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.30 and a quick ratio of 3.15. The firm has a market cap of $2.99 billion, a PE ratio of 64.27 and a beta of 1.59. The stock has a fifty day simple moving average of $76.98 and a 200-day simple moving average of $75.57.

DY has been the topic of several research analyst reports. B. Riley boosted their price target on Dycom Industries from $86.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded Dycom Industries from a “hold” rating to a “sell” rating and set a $74.00 price objective for the company. in a report on Wednesday, August 4th. Wells Fargo & Company increased their price target on Dycom Industries from $85.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday. Craig Hallum upped their price objective on shares of Dycom Industries from $110.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, DA Davidson upped their price objective on shares of Dycom Industries from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $109.17.

A hedge fund recently bought a new stake in Dycom Industries stock. Janus Henderson Group PLC acquired a new stake in shares of Dycom Industries, Inc. (NYSE:DY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,217 shares of the construction company’s stock, valued at approximately $229,000. Institutional investors and hedge funds own 92.20% of the company’s stock.

About Dycom Industries

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.

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Earnings History for Dycom Industries (NYSE:DY)

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