$805.78 Million in Sales Expected for Dycom Industries, Inc. (DY) This Quarter

Analysts forecast that Dycom Industries, Inc. (NYSE:DY) will post sales of $805.78 million for the current quarter, Zacks reports. Six analysts have issued estimates for Dycom Industries’ earnings. The highest sales estimate is $816.80 million and the lowest is $785.67 million. Dycom Industries posted sales of $756.22 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The business is expected to report its next quarterly earnings report on Monday, November 19th.

According to Zacks, analysts expect that Dycom Industries will report full-year sales of $3.05 billion for the current financial year, with estimates ranging from $3.02 billion to $3.07 billion. For the next financial year, analysts anticipate that the business will post sales of $3.42 billion, with estimates ranging from $3.29 billion to $3.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Dycom Industries.

Dycom Industries (NYSE:DY) last posted its quarterly earnings data on Wednesday, August 29th. The construction company reported $1.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.05. Dycom Industries had a net margin of 3.94% and a return on equity of 12.07%. The business had revenue of $799.50 million during the quarter, compared to analysts’ expectations of $799.51 million. During the same quarter in the prior year, the business posted $1.47 earnings per share. Dycom Industries’s revenue was up 2.5% compared to the same quarter last year.



DY has been the subject of a number of research reports. Wells Fargo & Co dropped their target price on shares of Dycom Industries from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, August 30th. B. Riley reissued a “neutral” rating and issued a $84.00 target price (up previously from $75.00) on shares of Dycom Industries in a report on Thursday, September 27th. Zacks Investment Research raised shares of Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 16th. Craig Hallum cut shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, ValuEngine cut shares of Dycom Industries from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $101.40.

DY traded down $1.52 on Friday, hitting $67.05. 395,109 shares of the stock were exchanged, compared to its average volume of 386,863. Dycom Industries has a 12 month low of $65.82 and a 12 month high of $123.99. The company has a quick ratio of 2.96, a current ratio of 3.24 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 2.79 and a beta of 1.21.

Dycom Industries declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 29th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of DY. CenterStar Asset Management LLC raised its holdings in Dycom Industries by 1,933.8% in the 2nd quarter. CenterStar Asset Management LLC now owns 1,322 shares of the construction company’s stock valued at $125,000 after buying an additional 1,257 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Dycom Industries in the 2nd quarter valued at approximately $189,000. Point72 Hong Kong Ltd raised its holdings in Dycom Industries by 388.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,283 shares of the construction company’s stock valued at $216,000 after buying an additional 1,816 shares during the last quarter. Howe & Rusling Inc. raised its holdings in Dycom Industries by 45.1% in the 2nd quarter. Howe & Rusling Inc. now owns 2,455 shares of the construction company’s stock valued at $232,000 after buying an additional 763 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in Dycom Industries in the 2nd quarter valued at approximately $236,000.

Dycom Industries Company Profile

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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Earnings History and Estimates for Dycom Industries (NYSE:DY)

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