Dycom Industries (NYSE:DY) Issues Quarterly Earnings Results, Beats Expectations By $1.69 EPS

Dycom Industries (NYSE:DYGet Free Report) released its earnings results on Wednesday. The construction company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $1.69, FiscalAI reports. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.

Dycom Industries Price Performance

NYSE DY opened at $421.68 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.74 and a quick ratio of 2.61. The stock’s fifty day moving average price is $392.07 and its 200 day moving average price is $372.25. Dycom Industries has a 1 year low of $223.19 and a 1 year high of $464.82. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 0.94 and a beta of 1.46.

Institutional Investors Weigh In On Dycom Industries

A number of large investors have recently bought and sold shares of DY. Peconic Partners LLC lifted its position in Dycom Industries by 2.8% during the second quarter. Peconic Partners LLC now owns 3,817,825 shares of the construction company’s stock valued at $933,038,000 after purchasing an additional 105,586 shares during the period. First Trust Advisors LP raised its position in Dycom Industries by 3.4% during the fourth quarter. First Trust Advisors LP now owns 625,171 shares of the construction company’s stock valued at $211,245,000 after acquiring an additional 20,306 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Dycom Industries by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 558,519 shares of the construction company’s stock valued at $188,725,000 after acquiring an additional 110,065 shares in the last quarter. Bank of America Corp DE grew its position in Dycom Industries by 15.2% during the third quarter. Bank of America Corp DE now owns 354,225 shares of the construction company’s stock valued at $103,349,000 after buying an additional 46,680 shares during the period. Finally, Invesco Ltd. grew its position in Dycom Industries by 8.8% during the third quarter. Invesco Ltd. now owns 247,042 shares of the construction company’s stock valued at $72,077,000 after buying an additional 19,915 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. UBS Group set a $475.00 price objective on Dycom Industries and gave the stock a “buy” rating in a report on Friday, March 6th. Weiss Ratings downgraded Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $436.00 target price on shares of Dycom Industries in a report on Friday, March 27th. Finally, Zacks Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $431.64.

Check Out Our Latest Stock Analysis on DY

Dycom Industries Company Profile

(Get Free Report)

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.

Further Reading

Earnings History for Dycom Industries (NYSE:DY)

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