Dycom Industries, Inc. (NYSE:DY) – Equities research analysts at DA Davidson cut their Q3 2018 earnings estimates for shares of Dycom Industries in a note issued to investors on Tuesday. DA Davidson analyst B. Thielman now expects that the construction company will earn $1.20 per share for the quarter, down from their previous forecast of $1.31. DA Davidson currently has a “Neutral” rating and a $100.00 target price on the stock. DA Davidson also issued estimates for Dycom Industries’ Q4 2018 earnings at $1.60 EPS and Q2 2019 earnings at $0.73 EPS.
DY has been the subject of a number of other reports. B. Riley reiterated a “buy” rating on shares of Dycom Industries in a research note on Wednesday, November 1st. ValuEngine upgraded Dycom Industries from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company reiterated an “outperform” rating and issued a $109.00 price target (up from $88.00) on shares of Dycom Industries in a research note on Tuesday. Craig Hallum reiterated a “buy” rating and issued a $114.00 price target (up from $90.00) on shares of Dycom Industries in a research note on Tuesday. Finally, Zacks Investment Research cut Dycom Industries from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $109.40.
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Shares of Dycom Industries (NYSE DY) traded up $1.86 during mid-day trading on Wednesday, reaching $102.86. The company had a trading volume of 693,500 shares, compared to its average volume of 676,735. Dycom Industries has a 12 month low of $70.88 and a 12 month high of $110.64. The company has a market capitalization of $3,141.99, a P/E ratio of 22.05, a P/E/G ratio of 1.90 and a beta of 1.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.69 and a current ratio of 3.16.
Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.09. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The business 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 company earned $1.67 EPS. The business’s revenue was down 5.4% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Dycom Industries by 0.7% during the second quarter. Vanguard Group Inc. now owns 2,454,547 shares of the construction company’s stock valued at $219,732,000 after acquiring an additional 17,420 shares in the last quarter. State Street Corp grew its holdings in Dycom Industries by 3.3% in the second quarter. State Street Corp now owns 1,023,232 shares of the construction company’s stock valued at $91,602,000 after purchasing an additional 32,975 shares during the period. Dimensional Fund Advisors LP grew its holdings in Dycom Industries by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 929,812 shares of the construction company’s stock valued at $83,236,000 after purchasing an additional 5,163 shares during the period. Federated Investors Inc. PA grew its holdings in Dycom Industries by 24.1% in the second quarter. Federated Investors Inc. PA now owns 816,246 shares of the construction company’s stock valued at $73,070,000 after purchasing an additional 158,312 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Dycom Industries by 12.2% in the third quarter. Wells Fargo & Company MN now owns 783,436 shares of the construction company’s stock valued at $67,282,000 after purchasing an additional 85,079 shares during the period.
Dycom Industries Company Profile
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.
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