FY2024 EPS Estimates for Dycom Industries, Inc. (NYSE:DY) Lifted by Analyst

Dycom Industries, Inc. (NYSE:DYGet Rating) – Stock analysts at B. Riley raised their FY2024 earnings estimates for shares of Dycom Industries in a report issued on Tuesday, November 22nd. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings of $4.40 per share for the year, up from their previous forecast of $4.36. The consensus estimate for Dycom Industries’ current full-year earnings is $3.68 per share.

Several other analysts also recently issued reports on the stock. UBS Group set a $124.00 price target on shares of Dycom Industries in a research report on Thursday. KeyCorp lifted their price objective on shares of Dycom Industries from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. DA Davidson lifted their price objective on shares of Dycom Industries from $125.00 to $145.00 in a report on Thursday, August 25th. Wells Fargo & Company cut their price objective on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, November 14th. Finally, StockNews.com started coverage on shares of Dycom Industries in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $124.00.

Dycom Industries Stock Performance

NYSE DY opened at $91.46 on Thursday. The company has a fifty day simple moving average of $105.96 and a 200 day simple moving average of $100.95. Dycom Industries has a 12-month low of $76.21 and a 12-month high of $122.13. The company has a current ratio of 3.21, a quick ratio of 3.09 and a debt-to-equity ratio of 0.94. The company has a market cap of $2.69 billion, a P/E ratio of 23.21 and a beta of 1.44.

Dycom Industries (NYSE:DYGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The construction company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.47. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. The business had revenue of $972.30 million during the quarter, compared to the consensus estimate of $932.37 million. During the same quarter last year, the firm posted $0.60 EPS. Dycom Industries’s revenue was up 23.5% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in shares of Dycom Industries by 50.9% during the second quarter. First Horizon Advisors Inc. now owns 335 shares of the construction company’s stock valued at $30,000 after purchasing an additional 113 shares during the period. USA Financial Portformulas Corp bought a new position in shares of Dycom Industries during the third quarter valued at approximately $30,000. Credit Agricole S A bought a new position in shares of Dycom Industries during the third quarter valued at approximately $33,000. Tcwp LLC bought a new position in shares of Dycom Industries during the first quarter valued at approximately $38,000. Finally, Lazard Asset Management LLC bought a new position in shares of Dycom Industries during the third quarter valued at approximately $54,000. 93.32% of the stock is currently owned by institutional investors.

Insider Activity at Dycom Industries

In related news, CAO Sharon Villaverde sold 750 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $100.01, for a total value of $75,007.50. Following the sale, the chief accounting officer now directly owns 7,579 shares in the company, valued at approximately $757,975.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Sharon Villaverde sold 750 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $100.01, for a total transaction of $75,007.50. Following the sale, the chief accounting officer now directly owns 7,579 shares in the company, valued at $757,975.79. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dwight B. Duke sold 4,534 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $103.69, for a total value of $470,130.46. Following the sale, the director now owns 39,139 shares in the company, valued at $4,058,322.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,895 shares of company stock worth $2,659,348. Company insiders own 4.32% of the company’s stock.

Dycom Industries Company Profile

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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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