Zacks: Analysts Anticipate Dycom Industries, Inc. (NYSE:DY) Will Announce Quarterly Sales of $798.94 Million

Equities analysts expect Dycom Industries, Inc. (NYSE:DY) to announce sales of $798.94 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Dycom Industries’ earnings, with estimates ranging from $797.47 million to $800.40 million. Dycom Industries posted sales of $884.22 million in the same quarter last year, which would indicate a negative year over year growth rate of 9.6%. The business is expected to announce its next earnings results on Wednesday, August 26th.

According to Zacks, analysts expect that Dycom Industries will report full year sales of $3.19 billion for the current fiscal year, with estimates ranging from $3.13 billion to $3.28 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.35 billion, with estimates ranging from $3.07 billion to $3.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Dycom Industries.

Dycom Industries (NYSE:DY) last released its quarterly earnings data on Tuesday, May 19th. The construction company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.42. Dycom Industries had a return on equity of 7.78% and a net margin of 0.32%. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $747.03 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year.

DY has been the topic of a number of research analyst reports. Vertical Research initiated coverage on Dycom Industries in a research report on Thursday, March 19th. They issued a “buy” rating on the stock. Stephens reduced their target price on Dycom Industries from $50.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Zacks Investment Research upgraded Dycom Industries from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Friday. Stifel Nicolaus lifted their target price on Dycom Industries from $49.00 to $52.50 and gave the company a “buy” rating in a research report on Thursday. Finally, DA Davidson lifted their target price on Dycom Industries from $38.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $44.64.

Several hedge funds have recently bought and sold shares of DY. FDx Advisors Inc. increased its holdings in Dycom Industries by 167.6% during the 1st quarter. FDx Advisors Inc. now owns 16,709 shares of the construction company’s stock worth $96,000 after purchasing an additional 10,465 shares during the period. Voloridge Investment Management LLC purchased a new stake in Dycom Industries during the 1st quarter worth about $777,000. AQR Capital Management LLC increased its holdings in Dycom Industries by 117.4% during the 1st quarter. AQR Capital Management LLC now owns 13,528 shares of the construction company’s stock worth $347,000 after purchasing an additional 7,304 shares during the period. Squarepoint Ops LLC increased its holdings in Dycom Industries by 11.2% during the 1st quarter. Squarepoint Ops LLC now owns 66,506 shares of the construction company’s stock worth $1,706,000 after purchasing an additional 6,719 shares during the period. Finally, Invesco Ltd. increased its holdings in Dycom Industries by 91.4% during the 1st quarter. Invesco Ltd. now owns 536,742 shares of the construction company’s stock worth $13,767,000 after purchasing an additional 256,385 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

NYSE:DY traded up $0.85 on Monday, reaching $39.62. The company’s stock had a trading volume of 506,285 shares, compared to its average volume of 692,859. Dycom Industries has a 12-month low of $12.24 and a 12-month high of $60.55. The company has a quick ratio of 3.59, a current ratio of 4.51 and a debt-to-equity ratio of 1.69. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 121.16 and a beta of 1.41. The stock has a 50 day moving average price of $29.33 and a 200 day moving average price of $38.29.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, 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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