Dycom Industries, Inc. (NYSE:DY) – Research analysts at B. Riley cut their Q3 2019 earnings estimates for shares of Dycom Industries in a note issued to investors on Monday, August 13th. B. Riley analyst A. Rygiel now expects that the construction company will earn $0.85 per share for the quarter, down from their prior estimate of $1.40. B. Riley has a “Neutral” rating and a $75.00 price objective on the stock. B. Riley also issued estimates for Dycom Industries’ Q4 2019 earnings at $0.20 EPS, FY2019 earnings at $2.75 EPS and FY2020 earnings at $3.75 EPS.
A number of other equities analysts have also recently issued reports on DY. Canaccord Genuity restated a “buy” rating and issued a $90.00 target price (down from $120.00) on shares of Dycom Industries in a report on Tuesday. Craig Hallum cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research cut Dycom Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. DA Davidson decreased their target price on Dycom Industries to $77.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Deutsche Bank set a $85.00 target price on Dycom Industries and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $104.45.
Dycom Industries (NYSE:DY) last issued its earnings results on Tuesday, May 22nd. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.04). The company had revenue of $731.40 million during the quarter, compared to analyst estimates of $734.89 million. Dycom Industries had a return on equity of 14.59% and a net margin of 4.44%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share.
In other Dycom Industries news, Director Richard K. Sykes bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The stock was acquired at an average price of $94.81 per share, with a total value of $189,620.00. Following the completion of the transaction, the director now directly owns 3,934 shares in the company, valued at approximately $372,982.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.39% of the company’s stock.
Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Dycom Industries in the first quarter worth $114,000. CenterStar Asset Management LLC boosted its position in shares of Dycom Industries by 1,933.8% in the second quarter. CenterStar Asset Management LLC now owns 1,322 shares of the construction company’s stock worth $125,000 after buying an additional 1,257 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Dycom Industries in the second quarter worth $189,000. Hilltop Holdings Inc. acquired a new stake in shares of Dycom Industries in the first quarter worth $215,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of Dycom Industries by 388.9% in the second quarter. Point72 Hong Kong Ltd now owns 2,283 shares of the construction company’s stock worth $216,000 after buying an additional 1,816 shares during the period.
About Dycom Industries
Dycom Industries, Inc provides specialty contracting services in the United States and Canada. The company offers various specialty contracting services, including program management, engineering, construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.
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