Dycom Industries (NYSE:DY) Sets New 12-Month High on Strong Earnings

Shares of Dycom Industries, Inc. (NYSE:DY) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $566.47 and last traded at $550.8950, with a volume of 165956 shares changing hands. The stock had previously closed at $420.47.

The construction company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. Dycom Industries’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS.

Analysts Set New Price Targets

Several equities analysts have recently commented on DY shares. B. Riley Financial upped their target price on Dycom Industries from $420.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $436.00 price target on shares of Dycom Industries in a research note on Friday, March 27th. Weiss Ratings lowered Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Zacks Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, JPMorgan Chase & Co. lifted their target price on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and an average target price of $431.64.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in DY. Bank of America Corp DE increased its stake in Dycom Industries by 6.1% during the 1st quarter. Bank of America Corp DE now owns 445,830 shares of the construction company’s stock worth $151,056,000 after acquiring an additional 25,564 shares during the period. Janus Henderson Group PLC lifted its position in shares of Dycom Industries by 221.4% during the 1st quarter. Janus Henderson Group PLC now owns 40,228 shares of the construction company’s stock valued at $13,631,000 after acquiring an additional 27,712 shares during the period. Amundi grew its holdings in shares of Dycom Industries by 123.5% during the 1st quarter. Amundi now owns 3,048 shares of the construction company’s stock worth $1,033,000 after purchasing an additional 1,684 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Dycom Industries by 24.4% in the first quarter. California State Teachers Retirement System now owns 33,872 shares of the construction company’s stock worth $11,477,000 after purchasing an additional 6,639 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Dycom Industries by 50.1% in the first quarter. Royal Bank of Canada now owns 22,327 shares of the construction company’s stock worth $7,566,000 after purchasing an additional 7,452 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

The stock has a 50 day moving average of $392.07 and a 200 day moving average of $372.25. The company has a quick ratio of 2.61, a current ratio of 2.74 and a debt-to-equity ratio of 1.51. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 57.18, a P/E/G ratio of 0.94 and a beta of 1.46.

Dycom Industries Company Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.