$860.49 Million in Sales Expected for Dycom Industries, Inc. (NYSE:DY) This Quarter

Analysts predict that Dycom Industries, Inc. (NYSE:DY) will report sales of $860.49 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Dycom Industries’ earnings, with the lowest sales estimate coming in at $853.70 million and the highest estimate coming in at $874.30 million. Dycom Industries reported sales of $799.47 million in the same quarter last year, which indicates a positive year over year growth rate of 7.6%. The company is expected to announce its next quarterly earnings report on Wednesday, September 4th.

On average, analysts expect that Dycom Industries will report full-year sales of $3.38 billion for the current year, with estimates ranging from $3.35 billion to $3.42 billion. For the next financial year, analysts expect that the firm will report sales of $3.57 billion, with estimates ranging from $3.48 billion to $3.69 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Dycom Industries.

Dycom Industries (NYSE:DY) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.10. The company had revenue of $883.70 million for the quarter, compared to analysts’ expectations of $771.90 million. Dycom Industries had a net margin of 1.86% and a return on equity of 10.52%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS.

Several brokerages recently weighed in on DY. ValuEngine downgraded shares of Dycom Industries from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Canaccord Genuity dropped their price target on Dycom Industries from $68.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Wells Fargo & Co lifted their price target on Dycom Industries from $50.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Craig Hallum reissued an “in-line” rating and set a $65.00 price target (up from $51.00) on shares of Dycom Industries in a report on Wednesday, May 22nd. Finally, B. Riley lifted their price target on Dycom Industries from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $62.13.

Dycom Industries stock traded down $0.65 during trading hours on Friday, hitting $42.67. 21,074 shares of the stock traded hands, compared to its average volume of 374,799. The firm’s 50-day moving average price is $52.34 and its two-hundred day moving average price is $52.20. The company has a current ratio of 3.45, a quick ratio of 3.14 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.38 billion, a PE ratio of 15.36, a PEG ratio of 2.27 and a beta of 1.31. Dycom Industries has a one year low of $41.42 and a one year high of $85.65.

Hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP purchased a new stake in Dycom Industries during the 4th quarter worth approximately $481,000. Legal & General Group Plc raised its holdings in Dycom Industries by 3.2% during the 4th quarter. Legal & General Group Plc now owns 31,516 shares of the construction company’s stock worth $1,703,000 after buying an additional 970 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Dycom Industries by 24.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,476 shares of the construction company’s stock worth $80,000 after buying an additional 288 shares during the period. Norges Bank acquired a new stake in Dycom Industries during the 4th quarter worth about $13,149,000. Finally, Geode Capital Management LLC raised its holdings in Dycom Industries by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 334,030 shares of the construction company’s stock worth $18,050,000 after buying an additional 32,220 shares during the period. Institutional investors own 94.45% of the company’s stock.

About Dycom Industries

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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