Dycom Industries Inc. (DY) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Dycom Industries Inc. (NYSE:DY) issued its earnings results on Monday. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.02. Dycom Industries had a net margin of 4.82% and a return on equity of 27.39%. The business earned $799.20 million during the quarter, compared to the consensus estimate of $801.34 million. During the same period last year, the business posted $1.24 EPS. Dycom Industries’s revenue was up 21.2% on a year-over-year basis. Dycom Industries updated its Q2 guidance to $0.61-0.73 EPS.
Dycom Industries (NYSE:DY) opened at 92.95 on Tuesday. Dycom Industries has a 52 week low of $47.10 and a 52 week high of $98.45. The company has a market capitalization of $2.92 billion, a PE ratio of 23.89 and a beta of 1.32. The company has a 50-day moving average of $83.35 and a 200-day moving average of $84.89.
A number of large investors have recently modified their holdings of DY. Catalyst Capital Advisors LLC purchased a new stake in shares of Dycom Industries during the third quarter worth about $114,000. Tuttle Tactical Management LLC purchased a new stake in shares of Dycom Industries during the second quarter worth about $116,000. Financial Architects Inc increased its stake in shares of Dycom Industries by 1,266.3% in the second quarter. Financial Architects Inc now owns 1,339 shares of the company’s stock worth $120,000 after buying an additional 1,241 shares during the last quarter. Societe Generale purchased a new stake in shares of Dycom Industries during the second quarter worth about $125,000. Finally, LS Investment Advisors LLC increased its stake in shares of Dycom Industries by 74.2% in the third quarter. LS Investment Advisors LLC now owns 2,061 shares of the company’s stock worth $169,000 after buying an additional 878 shares during the last quarter. 99.44% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on the stock. DA Davidson set a $110.00 price objective on shares of Dycom Industries and gave the stock a “buy” rating in a research report on Monday, August 22nd. Zacks Investment Research upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Wednesday, October 5th. Vetr upgraded shares of Dycom Industries from a “hold” rating to a “strong-buy” rating and set a $110.54 price objective for the company in a research report on Thursday, September 8th. FBR & Co raised their price objective on shares of Dycom Industries from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday, August 25th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Dycom Industries in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Dycom Industries has a consensus rating of “Buy” and an average price target of $98.57.
Dycom Industries Company Profile
Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.
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