Analysts Offer Predictions for Dycom Industries, Inc.’s FY2023 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DYGet Rating) – Equities research analysts at DA Davidson increased their FY2023 earnings per share estimates for Dycom Industries in a research note issued to investors on Wednesday, November 23rd. DA Davidson analyst B. Thielman now forecasts that the construction company will earn $3.99 per share for the year, up from their prior estimate of $3.66. The consensus estimate for Dycom Industries’ current full-year earnings is $3.68 per share. DA Davidson also issued estimates for Dycom Industries’ Q4 2023 earnings at $0.08 EPS and FY2024 earnings at $5.20 EPS.

Dycom Industries (NYSE:DYGet Rating) last announced its quarterly earnings data on Wednesday, August 24th. The construction company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.47. The business had revenue of $972.30 million for the quarter, compared to analyst estimates of $932.37 million. Dycom Industries had a return on equity of 13.96% and a net margin of 3.24%. The company’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share.

A number of other analysts also recently commented on DY. Wells Fargo & Company lowered their target price on Dycom Industries from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. StockNews.com initiated coverage on Dycom Industries in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. UBS Group set a $124.00 target price on Dycom Industries in a research note on Thursday. KeyCorp upped their target price on Dycom Industries from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Finally, Craig Hallum set a $110.00 target price on Dycom Industries in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Dycom Industries currently has a consensus rating of “Buy” and an average target price of $124.00.

Dycom Industries Stock Up 1.4 %

Shares of DY opened at $91.46 on Thursday. Dycom Industries has a 52 week low of $76.21 and a 52 week high of $122.13. The company has a quick ratio of 3.09, a current ratio of 3.21 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 23.21 and a beta of 1.44. The stock’s 50-day moving average price is $105.96 and its 200-day moving average price is $100.95.

Insiders Place Their Bets

In other Dycom Industries news, CEO Steven E. Nielsen sold 18,611 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $113.60, for a total transaction of $2,114,209.60. Following the completion of the transaction, the chief executive officer now owns 689,719 shares of the company’s stock, valued at $78,352,078.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Dycom Industries news, CEO Steven E. Nielsen sold 18,611 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $113.60, for a total transaction of $2,114,209.60. Following the completion of the transaction, the chief executive officer now owns 689,719 shares of the company’s stock, valued at $78,352,078.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight B. Duke sold 4,534 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $103.69, for a total value of $470,130.46. Following the transaction, the director now directly owns 39,139 shares of the company’s stock, valued at approximately $4,058,322.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,895 shares of company stock worth $2,659,348. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dycom Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of Dycom Industries by 44.7% in the first quarter. Victory Capital Management Inc. now owns 9,667 shares of the construction company’s stock valued at $821,000 after purchasing an additional 2,985 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in Dycom Industries during the first quarter worth $4,882,000. Mutual of America Capital Management LLC increased its stake in Dycom Industries by 1.9% during the first quarter. Mutual of America Capital Management LLC now owns 27,524 shares of the construction company’s stock worth $2,622,000 after acquiring an additional 526 shares during the last quarter. GW&K Investment Management LLC increased its stake in Dycom Industries by 21.0% during the first quarter. GW&K Investment Management LLC now owns 51,664 shares of the construction company’s stock worth $4,922,000 after acquiring an additional 8,956 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Dycom Industries by 9.3% during the first quarter. Principal Financial Group Inc. now owns 846,628 shares of the construction company’s stock worth $80,650,000 after acquiring an additional 71,885 shares during the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

About Dycom Industries

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Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

Further Reading

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

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