Dycom Industries, Inc. (DY) Forecasted to Post FY2018 Earnings of $3.88 Per Share

Dycom Industries, Inc. (NYSE:DY) – Equities research analysts at DA Davidson cut their FY2018 earnings per share estimates for Dycom Industries in a research report issued to clients and investors on Monday. DA Davidson analyst B. Thielman now expects that the construction company will post earnings of $3.88 per share for the year, down from their prior forecast of $4.10. DA Davidson currently has a “Neutral” rating and a $100.00 price target on the stock. DA Davidson also issued estimates for Dycom Industries’ Q4 2018 earnings at $0.12 EPS, Q1 2019 earnings at $0.69 EPS, Q2 2019 earnings at $1.87 EPS, Q3 2019 earnings at $2.10 EPS, Q4 2019 earnings at $0.98 EPS and FY2019 earnings at $5.66 EPS.

Dycom Industries (NYSE:DY) last announced its earnings results on Monday, November 20th. The construction company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.90 by $0.09. Dycom Industries had a net margin of 4.46% and a return on equity of 22.49%. The company had revenue of $756.20 million during the quarter, compared to analysts’ expectations of $729.35 million. During the same period last year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis.

DY has been the subject of several other reports. Wells Fargo & Co restated an “outperform” rating and set a $125.00 price target (up from $108.50) on shares of Dycom Industries in a report on Thursday. Craig Hallum restated a “buy” rating and set a $129.00 price target (up from $114.00) on shares of Dycom Industries in a report on Tuesday. B. Riley decreased their price target on shares of Dycom Industries from $135.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $125.00 price target (up previously from $110.00) on shares of Dycom Industries in a research report on Tuesday. Finally, KeyCorp lifted their price target on shares of Dycom Industries from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $121.50.

Shares of Dycom Industries (NYSE:DY) traded up $0.30 on Thursday, hitting $113.26. 178,837 shares of the company’s stock traded hands, compared to its average volume of 546,179. Dycom Industries has a one year low of $73.95 and a one year high of $123.99. The firm has a market capitalization of $3,379.44, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16.

Several hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. grew its position in shares of Dycom Industries by 15.1% in the 4th quarter. Alliancebernstein L.P. now owns 1,025,193 shares of the construction company’s stock valued at $114,237,000 after purchasing an additional 134,410 shares during the period. State Street Corp boosted its holdings in shares of Dycom Industries by 3.3% in the 2nd quarter. State Street Corp now owns 1,023,232 shares of the construction company’s stock valued at $91,602,000 after buying an additional 32,975 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Dycom Industries by 12.2% in the 3rd quarter. Wells Fargo & Company MN now owns 783,436 shares of the construction company’s stock valued at $67,282,000 after buying an additional 85,079 shares during the last quarter. 12th Street Asset Management Company LLC boosted its holdings in shares of Dycom Industries by 3.6% in the 4th quarter. 12th Street Asset Management Company LLC now owns 365,287 shares of the construction company’s stock valued at $40,704,000 after buying an additional 12,711 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Dycom Industries by 12.2% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 330,772 shares of the construction company’s stock valued at $28,406,000 after acquiring an additional 36,034 shares during the period.

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About Dycom Industries

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

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

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