DA Davidson Weighs in on Dycom Industries, Inc.’s Q2 2018 Earnings (DY)
Dycom Industries, Inc. (NYSE:DY) – Analysts at DA Davidson cut their Q2 2018 earnings estimates for Dycom Industries in a research report issued on Tuesday. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.59. DA Davidson currently has a “Neutral” rating and a $100.00 target price on the stock. DA Davidson also issued estimates for Dycom Industries’ Q1 2019 earnings at $1.61 EPS.
Dycom Industries (NYSE:DY) last announced its earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.09. The company had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $729.35 million. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. COPYRIGHT VIOLATION NOTICE: This piece of content was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/23/da-davidson-weighs-in-on-dycom-industries-inc-s-q2-2018-earnings-dy.html.
A number of other equities research analysts also recently commented on the stock. Craig Hallum reiterated a “buy” rating and set a $114.00 price target (up from $90.00) on shares of Dycom Industries in a report on Tuesday. Deutsche Bank AG started coverage on shares of Dycom Industries in a report on Tuesday, September 26th. They set a “buy” rating and a $103.00 price target for the company. Canaccord Genuity lowered their price target on shares of Dycom Industries from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 31st. FBR & Co lifted their price target on shares of Dycom Industries from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Finally, B. Riley reiterated a “buy” rating and set a $119.00 price target (up from $98.00) on shares of Dycom Industries in a report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Dycom Industries currently has an average rating of “Buy” and a consensus price target of $109.40.
Shares of Dycom Industries (DY) traded up $1.86 on Thursday, reaching $102.86. 693,500 shares of the company’s stock were exchanged, compared to its average volume of 676,735. The company has a current ratio of 3.16, a quick ratio of 2.69 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $3,141.99, a PE ratio of 22.05, a P/E/G ratio of 1.90 and a beta of 1.27. Dycom Industries has a one year low of $70.88 and a one year high of $110.64.
Several hedge funds and other institutional investors have recently modified their holdings of DY. Moors & Cabot Inc. purchased a new stake in Dycom Industries in the third quarter valued at approximately $249,000. Sterling Capital Management LLC grew its holdings in Dycom Industries by 15.8% in the third quarter. Sterling Capital Management LLC now owns 30,388 shares of the construction company’s stock valued at $2,610,000 after purchasing an additional 4,148 shares during the period. Vident Investment Advisory LLC purchased a new stake in Dycom Industries in the third quarter valued at approximately $2,426,000. First Allied Advisory Services Inc. grew its holdings in Dycom Industries by 8.1% in the third quarter. First Allied Advisory Services Inc. now owns 8,841 shares of the construction company’s stock valued at $759,000 after purchasing an additional 666 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in Dycom Industries in the third quarter valued at approximately $6,264,000.
About Dycom Industries
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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