Dycom Industries, Inc. (NYSE:DY) Expected to Post Quarterly Sales of $726.30 Million

Wall Street analysts expect Dycom Industries, Inc. (NYSE:DY) to report $726.30 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Dycom Industries’ earnings, with the highest sales estimate coming in at $730.60 million and the lowest estimate coming in at $723.30 million. Dycom Industries reported sales of $737.60 million in the same quarter last year, which indicates a negative year over year growth rate of 1.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 24th.

On average, analysts expect that Dycom Industries will report full-year sales of $3.17 billion for the current fiscal year, with estimates ranging from $3.17 billion to $3.18 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.21 billion, with estimates ranging from $3.08 billion to $3.27 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Dycom Industries.

Dycom Industries (NYSE:DY) last released its earnings results on Monday, November 23rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.01. The company had revenue of $810.26 million during the quarter, compared to analyst estimates of $821.88 million. Dycom Industries had a return on equity of 8.77% and a net margin of 0.86%.

A number of research firms have issued reports on DY. Wells Fargo & Company upped their price target on shares of Dycom Industries from $60.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, November 20th. DA Davidson upped their price target on shares of Dycom Industries from $60.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, November 25th. Zacks Investment Research cut shares of Dycom Industries from a “buy” rating to a “hold” rating and set a $76.00 price target for the company. in a report on Wednesday, November 11th. Stifel Nicolaus upgraded shares of Dycom Industries to a “buy” rating and upped their price target for the company from $69.00 to $90.00 in a report on Monday, November 23rd. Finally, B. Riley upped their price target on shares of Dycom Industries from $92.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, January 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $72.63.

Shares of NYSE DY traded down $0.48 during mid-day trading on Tuesday, reaching $76.88. The company had a trading volume of 268,027 shares, compared to its average volume of 362,375. Dycom Industries has a twelve month low of $12.24 and a twelve month high of $93.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.58 and a current ratio of 2.73. The stock has a market capitalization of $2.45 billion, a PE ratio of 94.34 and a beta of 1.62. The stock’s 50 day moving average is $86.12 and its 200-day moving average is $68.95.

In related news, COO Timothy R. Estes sold 51,969 shares of the firm’s stock in a transaction that occurred on Thursday, January 14th. The shares were sold at an average price of $86.01, for a total value of $4,469,853.69. Following the completion of the sale, the chief operating officer now owns 152,900 shares of the company’s stock, valued at $13,150,929. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Timothy R. Estes sold 45,363 shares of the firm’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $77.65, for a total transaction of $3,522,436.95. Following the completion of the sale, the chief operating officer now directly owns 306,010 shares of the company’s stock, valued at approximately $23,761,676.50. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in Dycom Industries in the 3rd quarter valued at $404,000. Nisa Investment Advisors LLC increased its stake in Dycom Industries by 57.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,325 shares of the construction company’s stock valued at $123,000 after buying an additional 850 shares during the last quarter. Retirement Systems of Alabama increased its stake in Dycom Industries by 0.7% in the 3rd quarter. Retirement Systems of Alabama now owns 41,566 shares of the construction company’s stock valued at $2,196,000 after buying an additional 287 shares during the last quarter. Campbell Newman Asset Management Inc. increased its stake in Dycom Industries by 1.8% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 9,354 shares of the construction company’s stock valued at $494,000 after buying an additional 169 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its stake in shares of Dycom Industries by 161.8% during the 3rd quarter. Standard Life Aberdeen plc now owns 64,400 shares of the construction company’s stock worth $3,401,000 after purchasing an additional 39,800 shares during the last quarter. 94.92% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. 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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Earnings History and Estimates for Dycom Industries (NYSE:DY)

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