KeyCorp Weighs in on Dycom Industries, Inc.’s Q4 2023 Earnings (NYSE:DY)

Dycom Industries, Inc. (NYSE:DYGet Rating) – Equities research analysts at KeyCorp lowered their Q4 2023 earnings estimates for Dycom Industries in a report released on Tuesday, November 22nd. KeyCorp analyst S. Eastman now expects that the construction company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.29. KeyCorp has a “Overweight” rating and a $130.00 price target on the stock. The consensus estimate for Dycom Industries’ current full-year earnings is $3.68 per share. KeyCorp also issued estimates for Dycom Industries’ FY2024 earnings at $5.71 EPS and FY2025 earnings at $7.30 EPS.

Dycom Industries (NYSE:DYGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The construction company reported $1.46 EPS for the quarter, beating the consensus estimate of $0.99 by $0.47. Dycom Industries had a net margin of 3.24% and a return on equity of 13.96%. The firm had revenue of $972.30 million for the quarter, compared to analyst estimates of $932.37 million. During the same quarter last year, the firm posted $0.60 earnings per share. Dycom Industries’s revenue for the quarter was up 23.5% compared to the same quarter last year.

Several other analysts also recently issued reports on DY. Wells Fargo & Company lowered their price objective on shares of Dycom Industries from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, November 14th. Craig Hallum increased their price objective on shares of Dycom Industries from $121.00 to $133.00 in a research report on Thursday, August 25th. DA Davidson increased their price objective on shares of Dycom Industries from $125.00 to $145.00 in a research report on Thursday, August 25th. Finally, StockNews.com began coverage on shares of Dycom Industries in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $128.00.

Dycom Industries Stock Up 1.4 %

Shares of NYSE:DY opened at $91.46 on Thursday. The company has a quick ratio of 3.09, a current ratio of 3.21 and a debt-to-equity ratio of 0.94. Dycom Industries has a 52-week low of $76.21 and a 52-week high of $122.13. The company has a 50 day moving average of $106.30 and a two-hundred day moving average of $101.02. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 23.21 and a beta of 1.44.

Institutional Investors Weigh In On Dycom Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky bought a new stake in Dycom Industries in the third quarter valued at $494,000. Balyasny Asset Management LLC lifted its stake in Dycom Industries by 76.3% in the third quarter. Balyasny Asset Management LLC now owns 131,565 shares of the construction company’s stock valued at $12,568,000 after buying an additional 56,933 shares during the last quarter. State Street Corp lifted its stake in Dycom Industries by 1.1% in the third quarter. State Street Corp now owns 938,740 shares of the construction company’s stock valued at $89,678,000 after buying an additional 9,909 shares during the last quarter. Castleark Management LLC lifted its stake in Dycom Industries by 13.3% in the third quarter. Castleark Management LLC now owns 64,310 shares of the construction company’s stock valued at $6,144,000 after buying an additional 7,560 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Dycom Industries by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,753,480 shares of the construction company’s stock valued at $263,040,000 after purchasing an additional 18,125 shares in the last quarter. 93.32% of the stock is currently owned by institutional investors.

Insider Transactions at Dycom Industries

In other Dycom Industries news, CEO Steven E. Nielsen sold 18,611 shares of Dycom Industries stock in a transaction on Monday, August 29th. The shares were sold at an average price of $113.60, for a total value of $2,114,209.60. Following the completion of the transaction, the chief executive officer now owns 689,719 shares of the company’s stock, valued at $78,352,078.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Dycom Industries news, CEO Steven E. Nielsen sold 69,062 shares of Dycom Industries stock in a transaction on Friday, August 26th. The shares were sold at an average price of $112.75, for a total value of $7,786,740.50. Following the completion of the transaction, the chief executive officer now owns 688,778 shares of the company’s stock, valued at $77,659,719.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven E. Nielsen sold 18,611 shares of Dycom Industries stock in a transaction on Monday, August 29th. The stock was sold at an average price of $113.60, for a total transaction of $2,114,209.60. Following the completion of the transaction, the chief executive officer now directly owns 689,719 shares of the company’s stock, valued at approximately $78,352,078.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,957 shares of company stock valued at $10,446,088. 4.32% of the stock is currently owned by corporate insiders.

About Dycom Industries

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Dycom Industries, Inc provides specialty contracting services in the United States. The company offers program management and engineering services; plans and designs aerial, underground, and buried fiber optic, copper, and coaxial cable systems; and construction, maintenance, and installation services, such as placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

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

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