Shares of Dycom Industries, Inc. (NYSE:DY) saw strong trading volume on Monday following a better than expected earnings announcement. 2,968,970 shares traded hands during trading, an increase of 341% from the previous session’s volume of 673,244 shares.The stock last traded at $98.22 and had previously closed at $90.04.
The construction company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.09. Dycom Industries had a return on equity of 26.68% and a net margin of 5.13%. The firm had revenue of $756.20 million for the quarter, compared to the consensus estimate of $729.35 million. During the same quarter in the prior year, the business earned $1.67 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis.
A number of research analysts have weighed in on the company. B. Riley reiterated a “buy” rating and set a $119.00 target price (up previously from $98.00) on shares of Dycom Industries in a report on Friday. Stephens upped their target price on Dycom Industries from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday. Zacks Investment Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 31st. Deutsche Bank AG assumed coverage on Dycom Industries in a report on Tuesday, September 26th. They set a “buy” rating and a $103.00 target price on the stock. Finally, Canaccord Genuity reduced their target price on Dycom Industries from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $106.44.
The company has a quick ratio of 2.69, a current ratio of 2.95 and a debt-to-equity ratio of 1.10. The stock has a market cap of $2,800.00, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27.
ILLEGAL ACTIVITY NOTICE: This article was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://sportsperspectives.com/2017/11/20/dycom-industries-inc-dy-sees-unusually-high-trading-volume-after-strong-earnings.html.
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.
Receive News & Ratings for Dycom Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dycom Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.