Dycom Industries (NYSE:DY – Free Report) had its price target reduced by Wells Fargo & Company from $650.00 to $550.00 in a research report report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.
Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price target on Dycom Industries from $415.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Wedbush set a $654.00 target price on Dycom Industries in a research report on Friday, May 29th. B. Riley Financial boosted their price objective on Dycom Industries from $485.00 to $625.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings raised Dycom Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Finally, Guggenheim raised their target price on Dycom Industries from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Dycom Industries presently has an average rating of “Moderate Buy” and a consensus price target of $514.00.
Check Out Our Latest Stock Report on DY
Dycom Industries Price Performance
Dycom Industries (NYSE:DY – Get Free Report) last announced its earnings results on Wednesday, August 26th. The construction company reported $5.29 EPS for the quarter, topping the consensus estimate of $4.72 by $0.57. Dycom Industries had a net margin of 4.79% and a return on equity of 25.30%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $3.33 earnings per share. The business’s revenue for the quarter was up 45.6% on a year-over-year basis. Dycom Industries has set its Q3 2027 guidance at 4.330-4.790 EPS. As a group, sell-side analysts predict that Dycom Industries will post 15.44 earnings per share for the current year.
Dycom Industries declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the construction company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Hedge Funds Weigh In On Dycom Industries
A number of hedge funds have recently added to or reduced their stakes in DY. Jones Financial Companies Lllp increased its holdings in Dycom Industries by 4,626.1% during the 1st quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock worth $331,000 after purchasing an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Dycom Industries by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock valued at $10,622,000 after buying an additional 4,985 shares during the last quarter. Invesco Ltd. boosted its position in shares of Dycom Industries by 7.0% during the second quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock valued at $55,508,000 after buying an additional 14,891 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after buying an additional 68 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Dycom Industries by 8.9% during the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.
Key Headlines Impacting Dycom Industries
Here are the key news stories impacting Dycom Industries this week:
- Positive Sentiment: Dycom reported second-quarter earnings of $5.29 per share, above the $4.72 consensus estimate, while revenue reached approximately $2.01 billion versus expectations of $1.98 billion. Revenue increased 45.6% year over year, supported by communications infrastructure and digital-infrastructure demand. Dycom Industries beats Q2 forecasts as digital infrastructure demand accelerates
- Positive Sentiment: Management raised its fiscal 2027 revenue outlook, citing continued strength in fiber, data-center connectivity and Building Systems. These trends point to a multiyear opportunity from fiber-network expansion and AI-related infrastructure spending. DY Q2 Earnings Call Focuses on Fiber Demand and Higher Outlook
- Positive Sentiment: The board authorized a $150 million share-repurchase program, equivalent to as much as 1.4% of outstanding shares. The authorization may support per-share results and signals that management believes the stock is undervalued. Stock Buyback Program Declared by Dycom Industries
- Neutral Sentiment: JPMorgan, UBS, Wells Fargo, KeyCorp and Cantor Fitzgerald lowered their price targets following the earnings report but retained bullish ratings, including “overweight” or “buy.” The target cuts reflect reduced near-term assumptions rather than a broadly negative long-term view.
- Negative Sentiment: The main pressure is fiscal third-quarter EPS guidance of $4.33 to $4.79, which is below analyst expectations. Investors are also concerned about a $150 million wireless-revenue deferral, helping explain why the strong quarterly beat has not translated into positive stock performance. Why Dycom Industries Stock Is Plummeting This Week
About Dycom Industries
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.
Featured Articles
- Five stocks we like better than Dycom Industries
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Receive News & Ratings for Dycom Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dycom Industries and related companies with MarketBeat.com's FREE daily email newsletter.
