Dycom Industries (NYSE:DY) Announces Earnings Results, Beats Estimates By $1.03 EPS

Dycom Industries (NYSE:DY – Get Rating) released its earnings results on Wednesday. The construction company reported $1.73 EPS for the quarter, topping the consensus estimate of $0.70 by $1.03, Briefing.com reports. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $940.22 million. Dycom Industries had a return on equity of 16.43% and a net margin of 3.73%. Dycom Industries’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS.

Dycom Industries Stock Performance

Shares of Dycom Industries stock opened at $99.10 on Thursday. The company has a quick ratio of 2.93, a current ratio of 3.18 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $2.91 billion, a P/E ratio of 20.91 and a beta of 1.30. The firm’s 50 day moving average is $93.74 and its two-hundred day moving average is $93.63. Dycom Industries has a 52 week low of $77.33 and a 52 week high of $122.13.

Analyst Ratings Changes

A number of brokerages have recently commented on DY. Wells Fargo & Company raised Dycom Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research report on Thursday. StockNews.com initiated coverage on shares of Dycom Industries in a report on Thursday, May 18th. They set a “buy” rating for the company. Craig Hallum increased their price objective on shares of Dycom Industries from $110.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, UBS Group lifted their price objective on shares of Dycom Industries from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $128.80.

Insiders Place Their Bets

In other news, CFO H Andrew Deferrari sold 10,282 shares of the business’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 directly owns 148,425 shares in the company, valued at $13,968,276.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO H Andrew Deferrari sold 10,282 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 148,425 shares of the company’s stock, valued at approximately $13,968,276.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ryan F. Urness sold 3,300 shares of the company’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $94.90, for a total value of $313,170.00. Following the transaction, the vice president now directly owns 26,242 shares in the company, valued at approximately $2,490,365.80. The disclosure for this sale can be found here. 4.25% of the stock is owned by insiders.

Institutional Trading of Dycom Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in shares of Dycom Industries by 56.6% during the 1st quarter. Ameriprise Financial Inc. now owns 170,775 shares of the construction company’s stock valued at $15,993,000 after acquiring an additional 61,713 shares during the period. SkyView Investment Advisors LLC purchased a new stake in Dycom Industries during the first quarter worth $173,000. Thrivent Financial for Lutherans grew its holdings in Dycom Industries by 273.3% in the first quarter. Thrivent Financial for Lutherans now owns 29,291 shares of the construction company’s stock valued at $2,743,000 after purchasing an additional 21,445 shares during the last quarter. Cim Investment Management Inc. purchased a new position in shares of Dycom Industries in the first quarter valued at $225,000. Finally, Southernsun Asset Management LLC boosted its position in shares of Dycom Industries by 13.1% in the 1st quarter. Southernsun Asset Management LLC now owns 657,145 shares of the construction company’s stock worth $61,542,000 after buying an additional 75,865 shares in the last quarter. 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.