KeyCorp Weighs in on Dycom Industries, Inc.’s Q4 2023 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DYGet Rating) – Investment analysts at KeyCorp dropped their Q4 2023 EPS estimates for shares of Dycom Industries in a report released on Tuesday, November 22nd. KeyCorp analyst S. Eastman now forecasts that the construction company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.29. KeyCorp has a “Overweight” rating and a $130.00 price objective on the stock. The consensus estimate for Dycom Industries’ current full-year earnings is $3.68 per share. KeyCorp also issued estimates for Dycom Industries’ FY2024 earnings at $5.71 EPS and FY2025 earnings at $7.30 EPS.

DY has been the subject of several other research reports. StockNews.com began coverage on shares of Dycom Industries in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Wells Fargo & Company lowered their price target on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, November 14th. DA Davidson boosted their price objective on shares of Dycom Industries from $125.00 to $145.00 in a report on Thursday, August 25th. Craig Hallum set a $110.00 price objective on shares of Dycom Industries in a report on Thursday. Finally, UBS Group set a $124.00 price objective on shares of Dycom Industries in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Dycom Industries currently has an average rating of “Buy” and an average target price of $124.00.

Dycom Industries Stock Up 1.4 %

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

Dycom Industries (NYSE:DYGet Rating) last issued its quarterly earnings results on Wednesday, August 24th. The construction company reported $1.46 EPS for the quarter, topping the consensus estimate of $0.99 by $0.47. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. The company had revenue of $972.30 million during the quarter, compared to analysts’ expectations of $932.37 million. During the same quarter in the previous year, the company earned $0.60 EPS. Dycom Industries’s revenue was up 23.5% on a year-over-year basis.

Hedge Funds Weigh In On Dycom Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake 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 acquiring an additional 2,985 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of Dycom Industries in the first quarter valued at about $4,882,000. Mutual of America Capital Management LLC lifted its position 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 purchasing an additional 526 shares during the period. GW&K Investment Management LLC lifted its position 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 purchasing an additional 8,956 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 purchasing an additional 71,885 shares during the period. 93.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dycom Industries

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

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.

See Also

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

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