Dycom Industries, Inc. (DY) to Post FY2017 Earnings of $5.24 Per Share, DA Davidson Forecasts

Dycom Industries, Inc. (DY) to Post FY2017 Earnings of $5.24 Per Share, DA Davidson Forecasts

Several other research firms have also commented on DY. Zacks Investment Research lowered shares of Dycom Industries from a “buy” rating to a “hold” rating in a report on Friday, May 26th. FBR & Co boosted their price target on shares of Dycom Industries from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. Stifel Nicolaus restated a “buy” rating and issued a $120.00 price target (up previously from $112.00) on shares of Dycom Industries in a report on Saturday, April 22nd. Wells Fargo & Co restated an “overweight” rating on shares of Dycom Industries in a report on Wednesday, April 19th. Finally, ValuEngine upgraded shares of Dycom Industries from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Dycom Industries presently has a consensus rating of “Buy” and an average price target of $102.09.

Dycom Industries, Inc. (NYSE:DY) – Equities researchers at DA Davidson reduced their FY2017 earnings per share estimates for Dycom Industries in a note issued to investors on Wednesday. DA Davidson analyst B. Thielman now expects that the construction company will earn $5.24 per share for the year, down from their previous forecast of $5.47. DA Davidson has a “Neutral” rating and a $97.00 price objective on the stock. DA Davidson also issued estimates for Dycom Industries’ Q4 2017 earnings at $1.45 EPS and FY2018 earnings at $5.57 EPS.

Shares of Dycom Industries (NYSE DY) opened at 82.21 on Monday. The firm has a 50-day moving average of $103.00 and a 200-day moving average of $88.67. Dycom Industries has a one year low of $70.33 and a one year high of $110.64. The stock has a market cap of $2.55 billion, a PE ratio of 16.17 and a beta of 1.31.

Dycom Industries (NYSE:DY) last announced its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. The business had revenue of $786.30 million for the quarter, compared to analysts’ expectations of $736.20 million. Dycom Industries had a net margin of 5.30% and a return on equity of 28.63%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of the company. HMS Capital Management LLC purchased a new position in shares of Dycom Industries during the third quarter worth about $1,423,000. Foster Dykema Cabot & Co. Inc. MA purchased a new position in shares of Dycom Industries during the third quarter worth about $463,000. Northern Trust Corp increased its position in shares of Dycom Industries by 19.8% in the third quarter. Northern Trust Corp now owns 539,467 shares of the construction company’s stock worth $44,118,000 after buying an additional 89,279 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Dycom Industries during the third quarter worth about $8,133,000. Finally, HBK Investments L P purchased a new position in shares of Dycom Industries during the third quarter worth about $1,379,000.

In other news, VP Richard B. Vilsoet sold 2,500 shares of Dycom Industries stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $94.76, for a total value of $236,900.00. Following the transaction, the vice president now owns 58,745 shares of the company’s stock, valued at approximately $5,566,676.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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