Dycom Industries (NYSE:DY) Posts Earnings Results, Beats Expectations By $1.07 EPS

Dycom Industries (NYSE:DY) released its earnings results on Tuesday. The construction company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $1.07, Briefing.com reports. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. Dycom Industries had a return on equity of 20.89% and a net margin of 4.71%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 earnings per share.

Dycom Industries Stock Performance

Shares of DY stock traded up $14.98 during trading on Tuesday, hitting $101.63. The company’s stock had a trading volume of 763,441 shares, compared to its average volume of 400,717. The company has a market cap of $2.98 billion, a PE ratio of 15.53, a P/E/G ratio of 0.77 and a beta of 1.29. The company has a current ratio of 3.38, a quick ratio of 3.13 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $87.04 and a 200-day moving average of $97.09. Dycom Industries has a 52 week low of $77.33 and a 52 week high of $115.53.

Analysts Set New Price Targets

A number of research firms recently commented on DY. UBS Group dropped their price objective on Dycom Industries from $132.00 to $127.00 and set a “buy” rating for the company in a report on Monday, August 21st. Wells Fargo & Company lowered their target price on Dycom Industries from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, November 13th. Bank of America began coverage on Dycom Industries in a research note on Tuesday, October 3rd. They set a “buy” rating and a $120.00 price objective on the stock. StockNews.com upgraded Dycom Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 19th. Finally, Raymond James raised Dycom Industries from an “outperform” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Friday, October 20th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $117.83.

Insider Buying and Selling at Dycom Industries

In other Dycom Industries news, VP Jason T. Lawson sold 618 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $88.37, for a total transaction of $54,612.66. Following the completion of the transaction, the vice president now directly owns 5,205 shares of the company’s stock, valued at $459,965.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.25% of the stock is owned by corporate insiders.

Institutional Trading of Dycom Industries

Several large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in Dycom Industries by 114.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 490 shares of the construction company’s stock worth $45,000 after buying an additional 261 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Dycom Industries by 43.5% during the second quarter. Tower Research Capital LLC TRC now owns 996 shares of the construction company’s stock valued at $113,000 after purchasing an additional 302 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of Dycom Industries during the first quarter valued at approximately $173,000. Captrust Financial Advisors lifted its holdings in shares of Dycom Industries by 61.8% during the first quarter. Captrust Financial Advisors now owns 1,974 shares of the construction company’s stock valued at $188,000 after purchasing an additional 754 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Dycom Industries by 32.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,023 shares of the construction company’s stock valued at $190,000 after purchasing an additional 493 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.