Dycom Industries (DY) reported quarterly earnings results on Tuesday, May-24-2016. The company said it had a profit of $1.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.34. Analysts had a consensus of $0.74. The company posted revenue of $664.60 million in the period, compared to analysts expectations of $597.80 million. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Many Wall Street Analysts have commented on Dycom Industries. Company shares were Reiterated by Stifel on May 20, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $80 .Company shares were Reiterated by Canaccord Genuity on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $75 .Canaccord Genuity Initiated Dycom Industries on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $75.
Dycom Industries opened for trading at $71.04 and hit $73.7 on the upside on Friday, eventually ending the session at $71.97, with a gain of 3.18% or 2.22 points. The heightened volatility saw the trading volume jump to 6,75,643 shares. Company has a market cap of $2,367 M.
In a different news, on Dec 17, 2015, Steven E Nielsen (President & CEO) sold 12,053 shares at $81.89 per share price. According to the SEC, on Dec 16, 2015, H Andrew Deferrari (Sr. VP & CFO) sold 9,500 shares at $80.00 per share price. On Dec 1, 2015, Thomas G Baxter (director) sold 15,000 shares at $87.41 per share price, according to the Form-4 filing with the securities and exchange commission.
Dycom Industries Inc. is a provider of specialty contracting services throughout the United States and in Canada. The Company through its subsidiaries provides engineering construction maintenance and installation services to telecommunications providers underground facility locating services to various utilities including telecommunications providers and other construction and maintenance services to electric and gas utilities. It offers engineering services which include the design of aerial underground and buried fiber optic copper and coaxial cable systems that extend from the telephone company central office or cable operator headend to the consumer’s home or business. It also provides tower construction lines and antenna installation and foundation and equipment pad construction for wireless carriers as well as equipment installation and material fabrication and site testing services.