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

Dycom Industries, Inc. (NYSE:DY) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock 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 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 the consensus estimate of $1.67 billion. Dycom Industries had a net margin of 5.07% and a return on equity of 21.77%. The firm’s quarterly revenue was up 56.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS.

Analyst Ratings Changes

DY has been the topic of a number of research analyst reports. Weiss Ratings downgraded Dycom Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Zacks Research raised Dycom Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. B. Riley Financial boosted their target price on Dycom Industries from $420.00 to $485.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen cut shares of Dycom Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $431.64.

Hedge Funds Weigh In On Dycom Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Dycom Industries by 5,603.6% during the fourth quarter. Nordea Investment Management AB now owns 405,580 shares of the construction company’s stock valued at $139,057,000 after acquiring an additional 398,469 shares during the last quarter. Wilson Asset Management International PTY Ltd. bought a new stake in shares of Dycom Industries in the fourth quarter worth $1,014,000. American Century Companies Inc. increased its holdings in Dycom Industries by 58.4% in the third quarter. American Century Companies Inc. now owns 97,801 shares of the construction company’s stock valued at $28,534,000 after purchasing an additional 36,074 shares during the period. New York Life Investment Management LLC acquired a new stake in Dycom Industries in the third quarter valued at $830,000. Finally, 12th Street Asset Management Company LLC raised its position in Dycom Industries by 48.9% during the 3rd quarter. 12th Street Asset Management Company LLC now owns 67,238 shares of the construction company’s stock worth $19,617,000 after purchasing an additional 22,077 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Dycom Industries Stock Performance

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

About Dycom Industries

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.