KeyCorp Comments on Dycom Industries, Inc.’s Q2 2023 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DYGet Rating) – KeyCorp decreased their Q2 2023 earnings per share estimates for Dycom Industries in a report released on Wednesday, May 25th. KeyCorp analyst S. Eastman now forecasts that the construction company will post earnings per share of $1.00 for the quarter, down from their previous estimate of $1.23. KeyCorp also issued estimates for Dycom Industries’ Q3 2023 earnings at $1.30 EPS.

Dycom Industries (NYSE:DYGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The construction company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. The firm had revenue of $761.40 million for the quarter, compared to analyst estimates of $723.83 million. Dycom Industries had a net margin of 2.05% and a return on equity of 8.17%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) earnings per share.

Several other research firms have also commented on DY. DA Davidson upped their price target on shares of Dycom Industries from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. TheStreet lowered shares of Dycom Industries from a “b-” rating to a “c+” rating in a report on Wednesday, March 2nd. B. Riley lowered their price target on shares of Dycom Industries from $120.00 to $115.00 in a report on Thursday, March 3rd. Wells Fargo & Company lowered their price target on shares of Dycom Industries from $120.00 to $110.00 in a report on Wednesday, May 11th. Finally, StockNews.com started coverage on shares of Dycom Industries in a report on Thursday, March 31st. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Dycom Industries presently has a consensus rating of “Buy” and an average target price of $112.14.

NYSE:DY opened at $94.15 on Monday. Dycom Industries has a one year low of $62.88 and a one year high of $105.28. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.34 and a current ratio of 3.46. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 42.60 and a beta of 1.53. The firm’s fifty day moving average is $89.03 and its two-hundred day moving average is $90.42.

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Dycom Industries by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 505,653 shares of the construction company’s stock worth $36,022,000 after purchasing an additional 1,512 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of Dycom Industries during the 3rd quarter worth about $2,320,000. Princeton Capital Management LLC acquired a new stake in Dycom Industries in the 4th quarter valued at about $224,000. Peconic Partners LLC raised its holdings in Dycom Industries by 12.9% in the 3rd quarter. Peconic Partners LLC now owns 1,099,227 shares of the construction company’s stock valued at $78,309,000 after acquiring an additional 125,843 shares during the last quarter. Finally, Blueshift Asset Management LLC raised its holdings in Dycom Industries by 23.7% in the 3rd quarter. Blueshift Asset Management LLC now owns 6,515 shares of the construction company’s stock valued at $464,000 after acquiring an additional 1,249 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

About Dycom Industries (Get Rating)

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and 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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