Dycom Industries (DY) Releases FY19 Earnings Guidance

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Dycom Industries (NYSE:DY) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.62-3.07 for the period, compared to the Thomson Reuters consensus estimate of $2.84. The company issued revenue guidance of $3.01-3.11 billion, compared to the consensus revenue estimate of $3.05 billion.Dycom Industries also updated its Q3 guidance to $0.80-1.04 EPS.

A number of analysts recently commented on the company. B. Riley dropped their price objective on Dycom Industries from $137.00 to $120.00 and set a buy rating for the company in a research report on Wednesday, May 23rd. Craig Hallum dropped their price objective on Dycom Industries from $129.00 to $100.00 and set a buy rating for the company in a research report on Wednesday, May 23rd. Stifel Nicolaus dropped their price objective on Dycom Industries from $126.00 to $117.00 and set a buy rating for the company in a research report on Wednesday, May 23rd. ValuEngine cut Dycom Industries from a hold rating to a sell rating in a report on Tuesday, May 22nd. Finally, KeyCorp lowered their price target on Dycom Industries from $123.00 to $112.00 and set an overweight rating for the company in a report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Dycom Industries has an average rating of Buy and a consensus price target of $104.45.

DY opened at $81.16 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.39 and a quick ratio of 3.09. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. Dycom Industries has a 12 month low of $67.15 and a 12 month high of $123.99.

Dycom Industries (NYSE:DY) last posted its quarterly earnings results on Wednesday, August 29th. The construction company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). The business had revenue of $799.50 million during the quarter, compared to analysts’ expectations of $799.51 million. Dycom Industries had a net margin of 4.44% and a return on equity of 14.59%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 EPS. sell-side analysts forecast that Dycom Industries will post 2.84 EPS for the current fiscal year.

Dycom Industries announced that its board has approved a stock repurchase plan on Wednesday, August 29th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.

Further Reading: Dividend

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

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