Dycom Industries (NYSE:DY) Releases Quarterly Earnings Results, Beats Expectations By $1.03 EPS

Dycom Industries (NYSE:DY – Get Rating) posted its quarterly earnings data on Wednesday. The construction company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $1.03, Briefing.com reports. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $940.22 million. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. Dycom Industries’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share.

Dycom Industries Price Performance

NYSE:DY traded down $0.96 on Thursday, reaching $96.06. 30,090 shares of the company’s stock traded hands, compared to its average volume of 506,193. The stock has a 50-day simple moving average of $93.74 and a 200-day simple moving average of $93.63. Dycom Industries has a 12 month low of $77.33 and a 12 month high of $122.13. The firm has a market cap of $2.82 billion, a PE ratio of 20.91 and a beta of 1.30. The company has a quick ratio of 2.93, a current ratio of 3.18 and a debt-to-equity ratio of 0.93.

Analyst Upgrades and Downgrades

DY has been the topic of a number of research reports. UBS Group raised their price objective on shares of Dycom Industries from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Wells Fargo & Company upgraded shares of Dycom Industries from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $105.00 to $120.00 in a research note on Thursday. StockNews.com initiated coverage on Dycom Industries in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Craig Hallum raised their target price on Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $128.80.

Insider Transactions at Dycom Industries

In related news, VP Ryan F. Urness sold 3,300 shares of Dycom Industries stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total transaction of $313,170.00. Following the sale, the vice president now owns 26,242 shares of the company’s stock, valued at approximately $2,490,365.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Ryan F. Urness sold 3,300 shares of the firm’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total transaction of $313,170.00. Following the completion of the transaction, the vice president now directly owns 26,242 shares of the company’s stock, valued at $2,490,365.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO H Andrew Deferrari sold 10,282 shares of Dycom Industries stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.11, for a total transaction of $967,639.02. Following the completion of the sale, the chief financial officer now owns 148,425 shares in the company, valued at $13,968,276.75. The disclosure for this sale can be found here. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DY. Rockefeller Capital Management L.P. raised its position in shares of Dycom Industries by 114.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock valued at $45,000 after buying an additional 261 shares in the last quarter. SkyView Investment Advisors LLC bought a new stake in shares of Dycom Industries in the 1st quarter valued at approximately $173,000. Captrust Financial Advisors boosted its holdings in shares of Dycom Industries by 61.8% in the 1st quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock worth $188,000 after purchasing an additional 754 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Dycom Industries by 32.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,023 shares of the construction company’s stock worth $190,000 after purchasing an additional 493 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in Dycom Industries during the 1st quarter valued at $210,000. 92.82% of the stock is owned by institutional investors.

About Dycom Industries

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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.