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

Dycom Industries (NYSE:DY) announced its earnings results on Monday. The construction company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.69 by $0.26, Briefing.com reports. The business had revenue of $854.00 million for the quarter, compared to the consensus estimate of $815.89 million. Dycom Industries had a return on equity of 5.95% and a net margin of 1.59%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS.

Dycom Industries stock traded down $0.94 during mid-day trading on Wednesday, hitting $98.97. 858,474 shares of the company’s stock traded hands, compared to its average volume of 365,079. The firm has a 50 day moving average price of $76.98 and a 200 day moving average price of $75.57. The company has a quick ratio of 3.15, a current ratio of 3.30 and a debt-to-equity ratio of 1.07. The company has a market cap of $2.99 billion, a PE ratio of 64.27 and a beta of 1.59. Dycom Industries has a one year low of $61.50 and a one year high of $105.28.

A number of equities research analysts have weighed in on DY shares. DA Davidson raised their price objective on Dycom Industries from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on Dycom Industries from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday. B. Riley raised their price objective on Dycom Industries from $86.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered Dycom Industries from a “hold” rating to a “sell” rating and set a $74.00 target price for the company. in a research report on Wednesday, August 4th. Finally, Craig Hallum lifted their target price on Dycom Industries from $110.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Dycom Industries currently has an average rating of “Buy” and a consensus target price of $109.17.

An institutional investor recently raised its position in Dycom Industries stock. BNP Paribas Arbitrage SA lifted its position in Dycom Industries, Inc. (NYSE:DY) by 22.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,769 shares of the construction company’s stock after buying an additional 2,005 shares during the period. BNP Paribas Arbitrage SA’s holdings in Dycom Industries were worth $767,000 at the end of the most recent reporting period. 92.20% of the stock is currently owned by institutional investors.

Dycom Industries Company Profile

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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