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Dycom Industries, Inc. (NYSE:DY) Expected to Post FY2022 Earnings of $1.47 Per Share

Last updated on Monday, November 29, 2021 | 2021 MarketBeat

Dycom Industries, Inc. (NYSE:DY) - Analysts at B. Riley upped their FY2022 earnings per share estimates for Dycom Industries in a note issued to investors on Wednesday, November 24th. B. Riley analyst A. Rygiel now forecasts that the construction company will post earnings per share of $1.47 for the year, up from their previous forecast of $1.34. B. Riley currently has a "Buy" rating and a $120.00 price target on the stock. B. Riley also issued estimates for Dycom Industries' Q4 2022 earnings at ($0.03) EPS and FY2023 earnings at $3.10 EPS.

Several other research firms have also recently commented on DY. Zacks Investment Research cut Dycom Industries from a "hold" rating to a "sell" rating and set a $74.00 price target for the company. in a report on Wednesday, August 4th. Wells Fargo & Company upped their price target on Dycom Industries from $85.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, November 24th. Craig Hallum upped their price target on Dycom Industries from $110.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, November 24th. DA Davidson upped their price target on Dycom Industries from $85.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, November 24th. Finally, KeyCorp upped their price target on Dycom Industries from $104.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, November 24th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $109.17.

Dycom Industries stock opened at $96.36 on Monday. The business has a 50 day moving average price of $78.08 and a two-hundred day moving average price of $75.60. The company has a quick ratio of 3.15, a current ratio of 3.69 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 67.39 and a beta of 1.59. Dycom Industries has a 12 month low of $61.50 and a 12 month high of $105.28. Dycom Industries (NYSE:DY) last announced its earnings results on Tuesday, November 23rd. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.26. Dycom Industries had a return on equity of 5.47% and a net margin of 1.40%. The firm had revenue of $854.00 million during the quarter, compared to the consensus estimate of $815.89 million. During the same quarter in the prior year, the company earned $1.06 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new stake in Dycom Industries during the 2nd quarter valued at $25,000. William Blair Investment Management LLC acquired a new stake in Dycom Industries during the 2nd quarter valued at $48,000. Eagle Bay Advisors LLC acquired a new stake in Dycom Industries during the 2nd quarter valued at $62,000. Key Financial Inc acquired a new stake in Dycom Industries during the 2nd quarter valued at $60,000. Finally, Advisors Asset Management Inc. increased its holdings in Dycom Industries by 54.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,035 shares of the construction company's stock valued at $77,000 after purchasing an additional 365 shares in the last quarter. 92.20% of the stock is owned by institutional investors and hedge funds.

About Dycom Industries

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.

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Earnings History and Estimates for Dycom Industries (NYSE:DY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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