Dycom Industries, Inc. (DY) Expected to Announce Quarterly Sales of $663.77 Million

Equities analysts forecast that Dycom Industries, Inc. (NYSE:DY) will post sales of $663.77 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Dycom Industries’ earnings, with estimates ranging from $660.14 million to $667.90 million. Dycom Industries reported sales of $701.13 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The company is scheduled to announce its next earnings report before the market opens on Wednesday, February 28th.

On average, analysts expect that Dycom Industries will report full-year sales of $663.77 million for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $3.37 billion per share, with estimates ranging from $3.30 billion to $3.44 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Dycom Industries.

Dycom Industries (NYSE:DY) last posted its earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.09. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The firm had revenue of $756.20 million during the quarter, compared to analyst estimates of $729.35 million. During the same period last year, the firm posted $1.67 earnings per share. Dycom Industries’s revenue for the quarter was down 5.4% compared to the same quarter last year.

A number of research firms recently weighed in on DY. B. Riley reissued a “buy” rating on shares of Dycom Industries in a report on Wednesday, November 1st. KeyCorp raised their target price on shares of Dycom Industries from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Co reissued an “outperform” rating and issued a $109.00 target price (up from $88.00) on shares of Dycom Industries in a report on Tuesday, November 21st. ValuEngine raised shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, Craig Hallum reissued a “buy” rating and issued a $114.00 target price (up from $90.00) on shares of Dycom Industries in a report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $115.60.

A number of hedge funds and other institutional investors have recently bought and sold shares of DY. SG Capital Management LLC purchased a new position in Dycom Industries during the third quarter worth $15,925,000. Peregrine Capital Management LLC purchased a new position in Dycom Industries during the fourth quarter worth $18,241,000. Castleark Management LLC purchased a new position in Dycom Industries during the second quarter worth $10,984,000. American Century Companies Inc. lifted its position in shares of Dycom Industries by 50.4% during the third quarter. American Century Companies Inc. now owns 270,572 shares of the construction company’s stock worth $23,237,000 after purchasing an additional 90,723 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Dycom Industries by 12.2% during the third quarter. Wells Fargo & Company MN now owns 783,436 shares of the construction company’s stock worth $67,282,000 after purchasing an additional 85,079 shares during the last quarter.

Dycom Industries (NYSE:DY) traded down $0.36 during mid-day trading on Tuesday, hitting $111.14. 602,261 shares of the company were exchanged, compared to its average volume of 496,395. Dycom Industries has a 1 year low of $73.95 and a 1 year high of $123.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16. The stock has a market capitalization of $3,588.28, a price-to-earnings ratio of 26.21, a PEG ratio of 1.80 and a beta of 1.36.

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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.

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