Dycom Industries, Inc. (NYSE:DY) Expected to Post FY2020 Earnings of $2.48 Per Share

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Dycom Industries, Inc. (NYSE:DY) – Analysts at DA Davidson raised their FY2020 earnings per share (EPS) estimates for Dycom Industries in a research note issued to investors on Wednesday, November 27th. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings per share of $2.48 for the year, up from their prior estimate of $2.47. DA Davidson also issued estimates for Dycom Industries’ Q4 2020 earnings at ($0.01) EPS and FY2021 earnings at $2.81 EPS.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Co lifted their price objective on Dycom Industries from $52.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. B. Riley reiterated a “buy” rating and issued a $57.00 price objective on shares of Dycom Industries in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Dycom Industries has a consensus rating of “Hold” and a consensus target price of $59.43.

NYSE:DY opened at $50.54 on Monday. Dycom Industries has a 52 week low of $40.06 and a 52 week high of $66.83. The stock’s fifty day moving average is $49.83 and its two-hundred day moving average is $50.74. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.63 and a beta of 1.39. The company has a quick ratio of 3.58, a current ratio of 3.87 and a debt-to-equity ratio of 1.15.

Dycom Industries (NYSE:DY) last posted its earnings results on Tuesday, November 26th. The construction company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.16. The firm had revenue of $884.10 million during the quarter, compared to the consensus estimate of $848.19 million. Dycom Industries had a net margin of 1.68% and a return on equity of 9.87%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS.

A number of institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Dycom Industries in the second quarter worth $58,000. Quest Capital Management Inc. ADV purchased a new position in Dycom Industries in the third quarter valued at $81,000. Public Employees Retirement System of Ohio boosted its holdings in Dycom Industries by 20.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,291 shares of the construction company’s stock valued at $135,000 after purchasing an additional 384 shares during the period. Point72 Hong Kong Ltd acquired a new position in Dycom Industries during the 2nd quarter worth $145,000. Finally, Glen Harbor Capital Management LLC grew its stake in Dycom Industries by 18.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,936 shares of the construction company’s stock worth $232,000 after purchasing an additional 624 shares in the last quarter. Institutional investors own 95.98% of the company’s stock.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services in the United States. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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Earnings History and Estimates for Dycom Industries (NYSE:DY)

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