Q3 2024 EPS Estimates for Dycom Industries, Inc. (NYSE:DY) Decreased by Analyst

Dycom Industries, Inc. (NYSE:DY – Get Rating) – Analysts at KeyCorp decreased their Q3 2024 EPS estimates for shares of Dycom Industries in a report issued on Wednesday, May 24th. KeyCorp analyst S. Eastman now anticipates that the construction company will post earnings of $2.28 per share for the quarter, down from their previous forecast of $2.55. The consensus estimate for Dycom Industries’ current full-year earnings is $5.37 per share. KeyCorp also issued estimates for Dycom Industries’ Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $6.85 EPS and FY2025 earnings at $8.26 EPS.

Several other research analysts also recently weighed in on DY. Wells Fargo & Company raised Dycom Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $105.00 to $120.00 in a research note on Thursday. UBS Group upped their price objective on shares of Dycom Industries from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. StockNews.com started coverage on shares of Dycom Industries in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Craig Hallum upped their price target on shares of Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $128.80.

Dycom Industries Stock Performance

NYSE DY opened at $100.50 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.93 and a debt-to-equity ratio of 0.93. Dycom Industries has a twelve month low of $77.33 and a twelve month high of $122.13. The stock has a 50-day moving average of $93.81 and a 200 day moving average of $93.67. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 21.20 and a beta of 1.30.

Dycom Industries (NYSE:DY – Get Rating) last issued its quarterly earnings data on Wednesday, May 24th. The construction company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $1.03. Dycom Industries had a net margin of 3.73% and a return on equity of 16.43%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $940.22 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year.

Insider Activity

In related news, CFO H Andrew Deferrari sold 10,282 shares of the company’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $94.11, for a total transaction of $967,639.02. Following the completion of the sale, the chief financial officer now owns 148,425 shares of the company’s stock, valued at approximately $13,968,276.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO H Andrew Deferrari sold 10,282 shares of Dycom Industries stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $94.11, for a total transaction of $967,639.02. Following the transaction, the chief financial officer now owns 148,425 shares in the company, valued at $13,968,276.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ryan F. Urness sold 3,300 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $94.90, for a total value of $313,170.00. Following the completion of the sale, the vice president now owns 26,242 shares of the company’s stock, valued at $2,490,365.80. The disclosure for this sale can be found here. Company insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On Dycom Industries

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Dycom Industries by 6.4% in the first quarter. JPMorgan Chase & Co. now owns 49,555 shares of the construction company’s stock valued at $4,721,000 after purchasing an additional 2,993 shares during the period. Raymond James & Associates increased its position in shares of Dycom Industries by 86.3% during the 1st quarter. Raymond James & Associates now owns 7,429 shares of the construction company’s stock worth $708,000 after purchasing an additional 3,441 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Dycom Industries by 40.0% in the 1st quarter. MetLife Investment Management LLC now owns 34,082 shares of the construction company’s stock valued at $3,247,000 after buying an additional 9,731 shares during the period. Panagora Asset Management Inc. acquired a new position in Dycom Industries in the first quarter valued at about $210,000. Finally, Rhumbline Advisers boosted its stake in Dycom Industries by 1.3% during the first quarter. Rhumbline Advisers now owns 87,563 shares of the construction company’s stock worth $8,341,000 after buying an additional 1,159 shares during the period. 92.82% of the stock is owned by hedge funds and other institutional investors.

About Dycom Industries

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.