B. Riley Comments on Dycom Industries, Inc.’s Q2 2024 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY – Get Rating) – B. Riley issued their Q2 2024 earnings per share (EPS) estimates for Dycom Industries in a research note issued on Thursday, March 2nd. B. Riley analyst A. Rygiel forecasts that the construction company will post earnings of $1.57 per share for the quarter. The consensus estimate for Dycom Industries’ current full-year earnings is $5.25 per share. B. Riley also issued estimates for Dycom Industries’ FY2025 earnings at $5.64 EPS.

Dycom Industries (NYSE:DY – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The construction company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.66. The business had revenue of $917.50 million during the quarter, compared to the consensus estimate of $815.89 million. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share.

A number of other brokerages also recently issued reports on DY. UBS Group upped their price target on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Craig Hallum upped their price target on Dycom Industries from $110.00 to $124.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on Dycom Industries from $88.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, StockNews.com downgraded Dycom Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.80.

Dycom Industries Stock Performance

Shares of DY opened at $101.11 on Monday. The stock has a 50 day moving average price of $91.20 and a 200 day moving average price of $99.25. The company has a quick ratio of 2.98, a current ratio of 3.18 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 21.33 and a beta of 1.29. Dycom Industries has a 52-week low of $76.21 and a 52-week high of $122.13.

Insider Activity

In other news, Director Richard K. Sykes sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $92.35, for a total transaction of $184,700.00. Following the completion of the sale, the director now owns 17,854 shares in the company, valued at $1,648,816.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Dycom Industries

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Dycom Industries by 6.4% in the first quarter. JPMorgan Chase & Co. now owns 49,555 shares of the construction company’s stock worth $4,721,000 after acquiring an additional 2,993 shares in the last quarter. Raymond James & Associates raised its position in Dycom Industries by 86.3% in the first quarter. Raymond James & Associates now owns 7,429 shares of the construction company’s stock worth $708,000 after acquiring an additional 3,441 shares in the last quarter. MetLife Investment Management LLC raised its position in Dycom Industries by 40.0% in the first quarter. MetLife Investment Management LLC now owns 34,082 shares of the construction company’s stock worth $3,247,000 after acquiring an additional 9,731 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Dycom Industries in the first quarter worth $210,000. Finally, Rhumbline Advisers raised its position in Dycom Industries by 1.3% in the first quarter. Rhumbline Advisers now owns 87,563 shares of the construction company’s stock worth $8,341,000 after acquiring an additional 1,159 shares in the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

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.