B. Riley Brokers Lift Earnings Estimates for Dycom Industries, Inc. (NYSE:DY)

Dycom Industries, Inc. (NYSE:DY – Get Rating) – Research analysts at B. Riley boosted their Q2 2024 earnings per share (EPS) estimates for shares of Dycom Industries in a note issued to investors on Thursday, May 25th. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings of $1.76 per share for the quarter, up from their prior forecast of $1.57. The consensus estimate for Dycom Industries’ current full-year earnings is $5.37 per share. B. Riley also issued estimates for Dycom Industries’ Q3 2024 earnings at $1.78 EPS and Q4 2024 earnings at $0.89 EPS.

Dycom Industries (NYSE:DY – Get Rating) last issued its quarterly earnings results on Wednesday, May 24th. The construction company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $1.03. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $940.22 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis.

A number of other analysts have also recently issued reports on the stock. StockNews.com began coverage on shares of Dycom Industries in a research note on Thursday, May 18th. They issued a “buy” rating for the company. UBS Group raised their price target on Dycom Industries from $124.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Craig Hallum upped their price objective on Dycom Industries from $110.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Finally, Wells Fargo & Company upgraded Dycom Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $105.00 to $120.00 in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $128.80.

Dycom Industries Trading Up 3.6 %

Dycom Industries stock opened at $100.50 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.93 and a debt-to-equity ratio of 0.93. Dycom Industries has a 12-month low of $77.33 and a 12-month high of $122.13. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 21.20 and a beta of 1.30. The firm has a 50 day moving average of $93.81 and a 200 day moving average of $93.67.

Insider Buying and Selling

In related news, CFO H Andrew Deferrari sold 10,282 shares of Dycom Industries stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $94.11, for a total value of $967,639.02. Following the completion of the transaction, the chief financial officer now owns 148,425 shares in the company, valued at $13,968,276.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Ryan F. Urness sold 3,300 shares of Dycom Industries stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $94.90, for a total transaction of $313,170.00. Following the completion of the transaction, the vice president now directly owns 26,242 shares of the company’s stock, valued at approximately $2,490,365.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO H Andrew Deferrari sold 10,282 shares of the company’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $94.11, for a total transaction of $967,639.02. Following the transaction, the chief financial officer now owns 148,425 shares in the company, valued at $13,968,276.75. The disclosure for this sale can be found here. 4.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Dycom Industries by 40.1% in the first quarter. BlackRock Inc. now owns 4,639,633 shares of the construction company’s stock worth $434,502,000 after buying an additional 1,327,595 shares during the period. Vanguard Group Inc. raised its stake in shares of Dycom Industries by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock valued at $263,040,000 after acquiring an additional 18,125 shares in the last quarter. Peconic Partners LLC boosted its holdings in shares of Dycom Industries by 8.8% in the third quarter. Peconic Partners LLC now owns 2,481,987 shares of the construction company’s stock valued at $237,104,000 after purchasing an additional 199,950 shares during the period. Alliancebernstein L.P. grew its stake in Dycom Industries by 43.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,728,780 shares of the construction company’s stock worth $161,814,000 after purchasing an additional 524,292 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Dycom Industries by 9.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,140,281 shares of the construction company’s stock worth $106,787,000 after purchasing an additional 96,268 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

About Dycom Industries

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Dycom Industries, Inc provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others.