Dycom Industries, Inc. Forecasted to Post FY2023 Earnings of $3.99 Per Share (NYSE:DY)

Dycom Industries, Inc. (NYSE:DYGet Rating) – Analysts at DA Davidson raised their FY2023 earnings estimates for Dycom Industries in a research report issued on Wednesday, November 23rd. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $3.99 for the year, up from their previous 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 posted its quarterly earnings results on Wednesday, August 24th. The construction company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.47. The firm had revenue of $972.30 million for the quarter, compared to the consensus estimate of $932.37 million. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share.

DY has been the topic of several other reports. KeyCorp raised their price target on shares of Dycom Industries from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Wells Fargo & Company reduced their target price on shares of 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 shares of Dycom Industries in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Craig Hallum lifted their target price on shares of Dycom Industries from $121.00 to $133.00 in a research note on Thursday, August 25th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $128.00.

Dycom Industries Stock Performance

NYSE:DY opened at $91.46 on Thursday. The company’s 50-day moving average price is $106.30 and its 200-day moving average price is $101.02. The company has a current ratio of 3.21, a quick ratio of 3.09 and a debt-to-equity ratio of 0.94. The company has a market cap of $2.69 billion, a P/E ratio of 23.21 and a beta of 1.44. Dycom Industries has a twelve month low of $76.21 and a twelve month high of $122.13.

Institutional Investors Weigh In On Dycom Industries

A number of institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its holdings in shares of Dycom Industries by 50.9% in the second quarter. First Horizon Advisors Inc. now owns 335 shares of the construction company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in Dycom Industries in the third quarter worth approximately $30,000. Credit Agricole S A purchased a new position in Dycom Industries in the third quarter worth approximately $33,000. Tcwp LLC purchased a new stake in Dycom Industries in the 1st quarter valued at $38,000. Finally, Lazard Asset Management LLC purchased a new stake in Dycom Industries in the 3rd quarter valued at $54,000. 93.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dycom Industries news, CAO Sharon Villaverde sold 750 shares of Dycom Industries stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.01, for a total transaction of $75,007.50. Following the completion of the sale, the chief accounting officer now directly owns 7,579 shares in the company, valued at $757,975.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dycom Industries news, CAO Sharon Villaverde sold 750 shares of Dycom Industries stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.01, for a total transaction of $75,007.50. Following the completion of the sale, the chief accounting officer now directly owns 7,579 shares in the company, valued at $757,975.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven E. Nielsen sold 18,611 shares of Dycom Industries stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $113.60, for a total transaction of $2,114,209.60. Following the sale, the chief executive officer now owns 689,719 shares of the company’s stock, valued at $78,352,078.40. The disclosure for this sale can be found here. Insiders have sold 92,957 shares of company stock valued at $10,446,088 over the last ninety days. Company insiders own 4.32% 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.

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

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