Q1 2024 EPS Estimates for Dycom Industries, Inc. (NYSE:DY) Lowered by Zacks Research

Dycom Industries, Inc. (NYSE:DY – Get Rating) – Investment analysts at Zacks Research reduced their Q1 2024 earnings per share (EPS) estimates for shares of Dycom Industries in a note issued to investors on Wednesday, March 15th. Zacks Research analyst A. Gupta now expects that the construction company will earn $0.70 per share for the quarter, down from their prior forecast of $0.82. The consensus estimate for Dycom Industries’ current full-year earnings is $5.09 per share. Zacks Research also issued estimates for Dycom Industries’ Q3 2024 earnings at $1.89 EPS and FY2026 earnings at $7.96 EPS.

DY has been the topic of a number of other research reports. UBS Group upped their price target on shares of Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. StockNews.com initiated coverage on shares of Dycom Industries in a report on Thursday. They set a “buy” rating for the company. Craig Hallum lifted their price objective on shares of Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Dycom Industries from $88.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, March 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.80.

Dycom Industries Price Performance

Shares of DY stock opened at $95.39 on Friday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 20.12 and a beta of 1.29. Dycom Industries has a 12-month low of $76.21 and a 12-month high of $122.13. The firm has a fifty day moving average of $92.43 and a 200-day moving average of $98.37. The company has a quick ratio of 2.93, a current ratio of 3.18 and a debt-to-equity ratio of 0.93.

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

Insider Activity at Dycom Industries

In other news, Director Richard K. Sykes sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $92.35, for a total transaction of $184,700.00. Following the sale, the director now owns 17,854 shares in the company, valued at $1,648,816.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in Dycom Industries by 149.4% during the 4th quarter. Millennium Management LLC now owns 883,489 shares of the construction company’s stock valued at $82,695,000 after acquiring an additional 529,178 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Dycom Industries by 43.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock valued at $161,814,000 after buying an additional 524,292 shares in the last quarter. Norges Bank purchased a new stake in shares of Dycom Industries in the fourth quarter valued at approximately $31,646,000. Point72 Asset Management L.P. acquired a new position in Dycom Industries during the third quarter worth $30,636,000. Finally, Peconic Partners LLC raised its holdings in Dycom Industries by 8.8% during the third quarter. Peconic Partners LLC now owns 2,481,987 shares of the construction company’s stock worth $237,104,000 after purchasing an additional 199,950 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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.