Dry Whey (DY)

Dycom Industries (NYSE:DY) Stock

Dycom Industries

Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries. its operating companies supply telecommunications providers with a comprehensive portfolio of specialty services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services and provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. It also provides a range of construction, maintenance, and installation services, including the placement and splicing of fiber, copper, and coaxial cables. The company operates throughout the United States.

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Dycom Industries reported Q3 FY25 results with increased contract revenue and adjusted EBITDA.

Dycom Industries Posts Strong Q3 Results: EPS Beats Estimates By 14%

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GLDD

EMCOR Group, Inc. (NYSE: EME) shares reached a new 52-week high of $437.10 on Friday. The stock pulled back to end the trading session at $435.60, gaining 1.3% that day. Impressively, the stock marked a 9.9% surge in the past five days.

EMCOR Hits 52-Week High: Is the Stock Still Worth Buying?

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A month has gone by since the last earnings report for Dycom Industries (NYSE: DY). Shares have added about 11.4% in that time frame, outperforming the S&amp;P 500.

Why Is Dycom Industries Up 11.4% Since Last Earnings Report?

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Spruce Point Capital Management Announces Strong Sell Research Opinion On Dycom Industries

Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $217.25, a high estimate of $229.00, and a low estimate of $210.00. This upward trend is evident, with the current average reflecting a 2.6% increase from the previous average price target of $211.75.
<img src="https://www.benzinga.com/files/images/story/2025/1738699219_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Dycom Industries among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Frank Louthan</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Strong Buy</td>
<td>$215.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$229.00</td>
<td>$227.00</td>
</tr>
<tr>
<td>Brent Thielman</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Buy</td>
<td>$210.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$215.00</td>
<td>$200.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Dycom Industries. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Dycom Industries compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Dycom Industries's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Dycom Industries's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/DY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dycom Industries analyst ratings.</a>
<h2>About Dycom Industries</h2>
Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries. its operating companies supply telecommunications providers with a comprehensive portfolio of specialty services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services and provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. It also provides a range of construction, maintenance, and installation services, including the placement and splicing of fiber, copper, and coaxial cables. The company operates throughout the United States.
<h3>Financial Milestones: Dycom Industries's Journey</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Dycom Industries showcased positive performance, achieving a revenue growth rate of 11.96% as of 31 October, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Dycom Industries's net margin is impressive, surpassing industry averages. With a net margin of 5.49%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Dycom Industries's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 5.83%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Dycom Industries's ROA excels beyond industry benchmarks, reaching 2.37%. This signifies efficient management of assets and strong financial health.
Debt Management: Dycom Industries's debt-to-equity ratio surpasses industry norms, standing at 0.98. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

4 Analysts Have This To Say About Dycom Industries

Raymond James analyst Frank Louthan maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Strong Buy and raises the price target from $210 to $215.

Price Target

Raymond James Maintains Strong Buy on Dycom Industries, Raises Price Target to $215

Keybanc analyst Sangita Jain maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Overweight and raises the price target from $227 to $229.

Keybanc Maintains Overweight on Dycom Industries, Raises Price Target to $229

WIIM

Dycom Industries shares are trading lower. The company reported Q3 financial results.

Dycom Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) shares are trading higher after the company reported its&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42083467/dycom-industries-inc-announces-fiscal-2025-third-quarter-results" rel="noreferrer noopener">third-quarter FY25 results</a>.
Contract revenue increased&nbsp;12.0%&nbsp;Y/Y to&nbsp;$1.272&nbsp;billion, beating the consensus of&nbsp;$1.231 billion.
Adjusted EBITDA increased to&nbsp;$170.7&nbsp;million from&nbsp;$143.2&nbsp;million a year ago. Adjusted EPS&nbsp;of&nbsp;$2.68 surpassed&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the street view of&nbsp;$2.35</a>.
As of October&nbsp;26, cash and equivalents stood at&nbsp;$15.3 million. During the nine&nbsp;months ended October&nbsp;26,&nbsp;the company bought back 210,000 shares of common shares in open market&nbsp;transactions for $29.8 million.
Outlook: For the&nbsp;fourth quarter, Dycom anticipates a mid- to high single-digit percentage increase in total contract revenues, which included the company expectation&nbsp;of around&nbsp;$35 million of acquired <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">contract revenues for the quarter</a>.
Adjusted EBITDA margin is projected to increase by about 25 basis points Y/Y.
Investors can gain exposure to the stock via&nbsp;First Trust RBA American Industrial Renaissance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRR#NASDAQ">AIRR</a>) and&nbsp;Hilton Small-MidCap Opportunity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCO#NASDAQ">SMCO</a>).
Price Action: DY shares are up 3.06% at $209 premarket at the last check Wednesday.
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For Q4 Dycom Expects Contract Revenues To Increase Mid- To High Single Digit As A Percentage Of Contract Revenues

Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) reported quarterly earnings of $2.68 per share which beat the analyst consensus estimate of $2.35 by 14.04 percent. The company reported quarterly sales of $1.272 billion which beat the analyst consensus estimate of $1.231 billion by 3.34 percent. This is a 11.97 percent increase over sales of $1.136 billion the same period last year.

Earnings Beats

Dycom Industries Q3 2025 Adj. EPS $2.68 Beats $2.35 Estimate, Sales $1.272B Beat $1.231B Estimate

<h3>Companies Reporting Before The Bell</h3>
• Williams-Sonoma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) is expected to report quarterly earnings at $1.78 per share on revenue of $1.79 billion. 
• Cool Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLCO#NYSE">CLCO</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $81.87 million. 
• TJX Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) is expected to report quarterly earnings at $1.10 per share on revenue of $13.95 billion. 
• Global E Online (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBE#NASDAQ">GLBE</a>) is likely to report quarterly loss at $0.15 per share on revenue of $168.60 million. 
• ZIM Integrated Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) is likely to report quarterly earnings at $7.21 per share on revenue of $2.41 billion. 
• Spire (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SR#NYSE">SR</a>) is projected to report quarterly loss at $0.53 per share on revenue of $349.50 million. 
• Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) is likely to report quarterly earnings at $2.26 per share on revenue of $1.22 billion. 
• Canaan (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NASDAQ">CAN</a>) is projected to report quarterly loss at $0.15 per share on revenue of $72.77 million. 
• So-Young Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SY#NASDAQ">SY</a>) is expected to report earnings for its third quarter. 
• Yatsen Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YSG#NYSE">YSG</a>) is expected to report earnings for its third quarter. 
• ATRenew (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NYSE">RERE</a>) is expected to report quarterly earnings at $0.05 per share on revenue of $561.74 million. 
• Full Truck Alliance Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YMM#NYSE">YMM</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $388.51 million. 
• Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) is estimated to report quarterly earnings at $1.43 per share on revenue of $443.96 million. 
• Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) is projected to report quarterly earnings at $2.30 per share on revenue of $25.90 billion. 
• NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) is projected to report quarterly loss at $0.32 per share on revenue of $2.70 billion. 
• Nano Dimension (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNDM#NASDAQ">NNDM</a>) is projected to report earnings for its third quarter. 
• Yiren Digital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YRD#NYSE">YRD</a>) is estimated to report earnings for its third quarter. 
• DouYu Intl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>) is likely to report earnings for its third quarter. 
• Naas Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) is estimated to report earnings for its third quarter. 
• Jiayin Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFIN#NASDAQ">JFIN</a>) is expected to report earnings for its third quarter. 
<h3>Companies Reporting After The Bell</h3>
• Copa Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPA#NYSE">CPA</a>) is expected to report quarterly earnings at $3.43 per share on revenue of $860.65 million. 
• Corporacion America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAAP#NYSE">CAAP</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $400.00 million. 
• Banco BBVA Argentina (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAR#NYSE">BBAR</a>) is projected to report quarterly earnings at $0.45 per share on revenue of $583.60 million. 
• VNET Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) is likely to report quarterly earnings at $0.03 per share on revenue of $286.47 million. 
• Euroseas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) is likely to report quarterly earnings at $3.55 per share on revenue of $53.30 million. 
• Universal Technical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTI#NYSE">UTI</a>) is projected to report quarterly earnings at $0.24 per share on revenue of $191.24 million. 
• Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) is estimated to report quarterly earnings at $0.15 per share on revenue of $898.46 million. 
• Maximus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMS#NYSE">MMS</a>) is estimated to report quarterly earnings at $1.48 per share on revenue of $1.31 billion. 
• Jack In The Box (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>) is likely to report quarterly earnings at $1.09 per share on revenue of $356.86 million. 
• KinderCare Learning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLC#NYSE">KLC</a>) is projected to report quarterly loss at $0.02 per share on revenue of $669.45 million. 
• NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $33.12 billion. 
• Jewett-Cameron Trading (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JCTC#NASDAQ">JCTC</a>) is projected to report earnings for its fourth quarter. 
• Duos Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOT#NASDAQ">DUOT</a>) is projected to report quarterly loss at $0.25 per share on revenue of $2.80 million. 
• Intchains Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NASDAQ">ICG</a>) is expected to report quarterly earnings at $0.05 per share on revenue of $14.32 million. 
• Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) is expected to report quarterly earnings at $1.48 per share on revenue of $2.12 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For November 20, 2024

DA Davidson analyst Brent Thielman maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Buy and maintains $210 price target.

DA Davidson Maintains Buy on Dycom Industries, Maintains $210 Price Target

Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-11-20. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Dycom Industries will report an earnings per share (EPS) of $2.26.
The announcement from Dycom Industries is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Performance in Previous Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.20, leading to a 2.14% drop in the share price on the subsequent day.
Here's a look at Dycom Industries's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2025</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.26</td>
<td>1.51</td>
<td>0.94</td>
<td>1.78</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.46</td>
<td>2.12</td>
<td>0.79</td>
<td>2.82</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>6.0%</td>
<td>-0.0%</td>
<td>0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1732026148_0.png" alt="eps graph" />
<h3>Dycom Industries Share Price Analysis</h3>
Shares of Dycom Industries were trading at $195.83 as of November 18. Over the last 52-week period, shares are up 91.76%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Observations about Dycom Industries</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Dycom Industries.
A total of 5 analyst ratings have been received for Dycom Industries, with the consensus rating being Outperform. The average one-year price target stands at $210.8, suggesting a potential 7.64% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Arcosa, Construction Partners and WillScot Holdings, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>The prevailing sentiment among analysts is an Outperform trajectory for Arcosa, with an average 1-year price target of $106.0, implying a potential 45.87% downside.</li>
<li>Construction Partners is maintaining an Neutral status according to analysts, with an average 1-year price target of $92.0, indicating a potential 53.02% downside.</li>
<li>WillScot Holdings is maintaining an Neutral status according to analysts, with an average 1-year price target of $39.8, indicating a potential 79.68% downside.</li>
</ul>
<h3>Peer Analysis Summary</h3>
The peer analysis summary offers a detailed examination of key metrics for Arcosa, Construction Partners and WillScot Holdings, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dycom Industries</td>
<td>Outperform</td>
<td>15.51%</td>
<td>$250.18M</td>
<td>6.11%</td>
</tr>
<tr>
<td>Arcosa</td>
<td>Outperform</td>
<td>8.23%</td>
<td>$136.70M</td>
<td>0.68%</td>
</tr>
<tr>
<td>Construction Partners</td>
<td>Neutral</td>
<td>22.73%</td>
<td>$83.49M</td>
<td>5.73%</td>
</tr>
<tr>
<td>WillScot Holdings</td>
<td>Neutral</td>
<td>-0.56%</td>
<td>$321.48M</td>
<td>-6.25%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Dycom Industries ranks first in Revenue Growth among its peers. It also leads in Gross Profit margin. However, it has the lowest Return on Equity.
<h3>Discovering Dycom Industries: A Closer Look</h3>
Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries. its operating companies supply telecommunications providers with a comprehensive portfolio of specialty services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services and provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. It also provides a range of construction, maintenance, and installation services, including the placement and splicing of fiber, copper, and coaxial cables. The company operates throughout the United States.
<h3>Key Indicators: Dycom Industries's Financial Health</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Dycom Industries displayed positive results in 3 months. As of 31 July, 2024, the company achieved a solid revenue growth rate of approximately 15.51%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Dycom Industries's net margin is impressive, surpassing industry averages. With a net margin of 5.69%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Dycom Industries's ROE excels beyond industry benchmarks, reaching 6.11%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Dycom Industries's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.54% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a high debt-to-equity ratio of 0.88, Dycom Industries faces challenges in effectively managing its debt levels, indicating potential financial strain.
<a href="https://www.benzinga.com/quote/DY/earnings">To track all earnings releases for Dycom Industries visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Dycom Industries's Upcoming Earnings

In the latest quarter, 5 analysts provided ratings for Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>), showcasing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Dycom Industries and provided 12-month price targets. The average target is $210.8, accompanied by a high estimate of $227.00 and a low estimate of $200.00. This upward trend is evident, with the current average reflecting a 5.61% increase from the previous average price target of $199.60.
<img src="https://www.benzinga.com/files/images/story/2024/1731690018_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Dycom Industries's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$215.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$227.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Alexander Waters</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$204.00</td>
<td>$198.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$208.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$195.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Dycom Industries. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Dycom Industries compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Dycom Industries's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
For valuable insights into Dycom Industries's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/DY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dycom Industries analyst ratings.</a>
<h2>Delving into Dycom Industries's Background</h2>
Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries. its operating companies supply telecommunications providers with a comprehensive portfolio of specialty services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services and provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. It also provides a range of construction, maintenance, and installation services, including the placement and splicing of fiber, copper, and coaxial cables. The company operates throughout the United States.
<h3>Unraveling the Financial Story of Dycom Industries</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Positive Revenue Trend: Examining Dycom Industries's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 15.51% as of 31 July, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: Dycom Industries's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.69% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Dycom Industries's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.11% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.54%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 0.88, Dycom Industries faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 5 Takes On Dycom Industries

Wells Fargo analyst Eric Luebchow maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Overweight and raises the price target from $200 to $215.

Wells Fargo Maintains Overweight on Dycom Industries, Raises Price Target to $215

Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) underwent analysis by 5 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $207.8, along with a high estimate of $227.00 and a low estimate of $200.00. Observing a 5.7% increase, the current average has risen from the previous average price target of $196.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1728392448_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Dycom Industries. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$227.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Alexander Waters</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$204.00</td>
<td>$198.00</td>
</tr>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$208.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Sangita Jain</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$185.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Dycom Industries. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Dycom Industries compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Dycom Industries's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into Dycom Industries's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/DY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Dycom Industries analyst ratings.</a>
<h2>About Dycom Industries</h2>
Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries. its operating companies supply telecommunications providers with a comprehensive portfolio of specialty services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services and provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. It also provides a range of construction, maintenance, and installation services, including the placement and splicing of fiber, copper, and coaxial cables. The company operates throughout the United States.
<h3>Dycom Industries: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Dycom Industries displayed positive results in 3 months. As of 31 July, 2024, the company achieved a solid revenue growth rate of approximately 15.51%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Industrials sector.
Net Margin: Dycom Industries's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.69% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Dycom Industries's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 6.11%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Dycom Industries's ROA excels beyond industry benchmarks, reaching 2.54%. This signifies efficient management of assets and strong financial health.
Debt Management: Dycom Industries's debt-to-equity ratio stands notably higher than the industry average, reaching 0.88. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>What Are Analyst Ratings?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Dycom Industries Analyst Ratings

Keybanc analyst Sangita Jain maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Overweight and raises the price target from $200 to $227.

Keybanc Maintains Overweight on Dycom Industries, Raises Price Target to $227

EMCOR Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eme#NYSE">EME</a>) shares reached a new 52-week high of $437.10 on Friday. The stock pulled back to end the trading session at $435.60, gaining 1.3% that day. Impressively, the stock marked a 9.9% surge in the past five days.
The move came in after the most awaited interest rate cut news, which boosted the overall market sentiments. On Wednesday, the Federal Reserve announced an interest rate cut by 50 cents to a range of 4.75% to 5%. Reduced interest rates can have a highly supportive effect on infrastructure stocks, benefiting from cheaper financing, increased government and private sector investment, higher appeal for dividend-seeking investors, and potential growth in related sectors like real estate.
In the year-to-date period (YTD), the stock surged more than 104%, handily outpacing the Zacks Building Products - Heavy Construction industry&#39;s 79.9% growth, the broader Construction sector&#39;s 22.6% rise and the S&amp;P 500&#39;s 19.6% increase. Investors looking for momentum stock may dig into EME right now.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b5/78846.jpg?v=176645747" />
Image Source: Zacks Investment Research
EMCOR, known for its strategic focus and diverse offerings, has seen significant growth in recent years amid a competitive landscape of non-residential services.
Substantiating the above-mentioned optimism, the 50-day SMA continues to read higher than the 200-day SMA, signaling a bullish trend. This technical strength underscores positive market sentiment and confidence in EMCOR&#39;s financial health and prospects.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/24/78848.jpg?v=784714474" />
Image Source: Zacks Investment Research
Other stocks from the same industry that touched a 52-week high on Sept. 20 are Dycom Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dy#NYSE">DY</a>), MasTec, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtz#NYSE">MTZ</a>) and Great Lakes Dredge &amp; Dock (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gldd#NASDAQ">GLDD</a>). These stocks surged 72.2%, 67.1% and 40.7%, respectively, in YTD.
Let&#39;s delve deeper into the factors substantiating this Fortune 500 company&#39;s resilience, which currently captures around $17 billion of total market share.
<h2>Solid Diversified Business</h2>
EMCOR has established itself as a leader in mechanical and electrical construction, industrial infrastructure, and building services. Its focus on these specialized sectors has positioned the company to dominate markets requiring expert solutions.
A key strength of EME is its investment in Virtual Design and Construction&nbsp;technologies, including Building Information Modeling (BIM), which helps the company design and coordinate complex projects. This technology also enhances its prefabrication processes, enabling customized fabrication for electrical, sheet metal, fire sprinkler, and piping systems, thus improving efficiency and competitiveness.
With the growing emphasis on energy efficiency and sustainability, EMCOR is well-positioned to benefit from the increased demand for HVAC and lighting retrofits, as well as building automation services. The Mechanical Services division, which generates nearly 65% of EMCOR&#39;s total revenues, plays a crucial role in meeting this demand and driving the company&#39;s success.
The company also expands in high-growth sectors and geographies via acquisitions. In the first half of 2024, EMCOR acquired four companies. The acquired companies are set to strengthen their Mechanical Construction, Building Services and Industrial Services segments, positioning them well for future growth.
<h2>EME&#39;s High RPO Levels May Boost Growth</h2>
EMCOR reported remaining performance obligations (RPOs) of $9 billion at end of second-quarter 2024, reflecting an 8.6% year-over-year increase. This near-record RPO level highlights a robust pipeline of future projects, particularly in sectors like data centers, high-tech manufacturing, healthcare, and water/wastewater.
RPOs in the network and communications sector, which includes data centers, reached a record $1.7 billion, marking 40% year-over-year growth. This surge emphasizes EMCOR&#39;s strong position in the expanding data center market, indicating significant future revenue potential.
<h2>Strong Cash Flow</h2>
The company generated $412 million in operating cash flow in the first six months of 2024, almost double the amount from the prior-year period. This strong cash flow supports the company&#39;s ability to fund growth initiatives, pursue acquisitions, and return capital to shareholders.
EMCOR invests in expanding prefabrication and VDC technologies, including BIM, automation, and robotics, while also engaging in various M&amp;A activities. Additionally, the company provides impressive returns to its stockholders through share repurchases and dividends. In 2024, EMCOR increased its quarterly dividend by 39% to 25 cents.
<h2>Obstacles Hindering EME&#39;s Growth Trajectory</h2>
EMCOR has faced difficulties in the commercial real estate market due to reduced demand and the completion of several projects. The U.S. and U.K. site-based services businesses, particularly in the U.S. Building Services segment, have experienced revenue setbacks, mainly due to the non-renewal of certain contracts in the last reported quarter.
In addition to sector-specific challenges, EMCOR is exposed to risks from fluctuating global energy markets and supply-chain disruptions. These factors could limit infrastructure investments and increase project costs, creating obstacles to the company&#39;s growth prospects.
<h2>Valuation, Return &amp; Growth Trend</h2>
EMCOR&#39;s shares are currently overvalued marginally. Its forward 12-month price-to-earnings (P/E) ratio of 22.27 is above its five-year median of 16.23 and the industry&#39;s average of 21.66 currently.
EME provides solid investment returns compared to the industry&#39;s average, as reflected by its current trailing 12-month Return on Equity of 32.7%. This indicates the company efficiently uses its shareholders&#39; funds.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2b/78847.jpg?v=1312124596" />
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for EME&#39;s earnings has moved up in the past 60 days, indicating analysts are showing confidence in the stock. Over the last 60 days, forecasts for 2024 and 2025 have increased to $19.50 (from $16.10) and $19.59 (from $17.41), respectively.
<h2>Final Thoughts</h2>
EMCOR&#39;s focus on advanced technologies and sustainability, robust capital allocation strategy, and strong financial performance make it a must-buy for investors looking for good long-term gain. Also, Fed&#39;s rate cut is likely to bolster the infrastructure market by lowering borrowing costs, enhancing project viability, encouraging investment, and stimulating economic growth.
However, some industry headwinds and a high valuation depict a risk to the sustainability of its current price if the company&#39;s future performance does not meet investors&#39; expectations.
We believe its impressive business structure, as well as economic rebound, will help the company generate higher earnings in coming quarters. Additionally, solid return and future earnings expectations reinforce its Zacks Rank #1 (Strong Buy) rating, making EMCOR an attractive addition to investors&#39; portfolio at present.
<a href="https://www.zacks.com/stock/news/2340075/emcor-hits-52-week-high-is-the-stock-still-worth-buying?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2340075">To read this article on Zacks.com click here.</a>

A month has gone by since the last earnings report for Dycom Industries (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dy#NYSE">DY</a>). Shares have added about 11.4% in that time frame, outperforming the S&amp;P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Dycom Industries due for a pullback? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
<h3>Dycom Q2 Earnings &amp; Revenues Top Estimates, Up Y/Y</h3>
Dycom Industries Inc. reported strong results in second-quarter fiscal 2025 (ended Jul 27, 2024). Both the top and the bottom line surpassed their respective Zacks Consensus Estimate.
Contract revenues and earnings increased on a year-over-year basis. The upside was backed by solid organic growth from the top five customers and strong contributions from all other customers.
<h3>Earnings &amp; Revenue Discussion</h3>
Dycom reported adjusted earnings per share of $2.46, beating the Zacks Consensus Estimate of $2.18 by 12.8% and increasing 21.2% from $2.03 year over year.
Contract revenues of $1.20 billion surpassed the consensus mark of $1.19 billion by 0.7% and rose 15.5% year over year. Contract revenues increased 9.2% on an organic basis. Acquisitions contributed $65.9 million to contract revenues.
The company&#39;s top five customers contributed 54.9% to total contract revenues, which inched up 7.1%, organically. Revenues from all other customers increased 12.3% organically in the quarter. The period marks the 22nd consecutive period of organic growth for DY&#39;s all other customers in aggregate, excluding the top five.
Dycom&#39;s largest customer, AT&amp;T, contributed 17.5% to total revenues and increased 20.6% organically. Lumen (the second-largest customer) contributed 13.6% to total revenues and inched up 0.7% organically. Comcast contributed 8.8%, Verizon represented 10.1% and Charter added 2.1% to total revenues. The company&#39;s fourth customer contributed to 8% of revenues and surged 73.2% organically.
Fiber construction revenues from electric utilities were $88.7 million.
<h3>Operations &amp; Backlog Details</h3>
Adjusted EBITDA increased 21.1% to $158.3 million from $130.8 million reported a year ago. Adjusted EBITDA margin of 13.2% expanded 60 basis points from the year-ago level.
Dycom&#39;s backlog at the end of the fiscal second quarter totaled $6.834 billion compared with $6.917 billion at the fiscal 2024 end. Of the backlog, $3.830 billion is projected to be completed in the next 12 months.
<h3>Financials</h3>
As of Jul 27, 2024, DY had liquidity of $622 million, including cash and cash equivalents worth $19.6 million compared with $101.1 million as of Jan 27, 2024. Long-term debt was $942.4 million at the fiscal second-quarter end, up from $791.4 million at the fiscal 2024 end.
At the end of the fiscal second quarter, DY repurchased 210,000 shares of its common stock for $29.8 million at an average price of $141.84 per share.
<h3>Fiscal Third-Quarter View</h3>
For the fiscal third quarter (ending on Oct 26, 2024), DY expects contract revenues to grow by mid-to-high single digits year over year. It expects $75 million of acquired contract revenues for the quarter.
The adjusted EBITDA margin is expected to increase 20-50 bps from the year-ago levels. For the said period, Dycom expects the effective tax rate to be 26.5% and diluted shares of 29.6 million. Interest expenses, net, is likely to be $17.5 million and amortization expenses to be $9.5 million.
<h2>How Have Estimates Been Moving Since Then?</h2>
In the past month, investors have witnessed an upward trend in estimates revision.
<h2>VGM Scores</h2>
Currently, Dycom Industries has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.
<h2>Outlook</h2>
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Dycom Industries has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
<a href="https://www.zacks.com/stock/news/2339323/why-is-dycom-industries-dy-up-11-4-since-last-earnings-report?cid=CS-BENZ-FT-realtime_blog-2339323">To read this article on Zacks.com click here.</a>

Dycom Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dy#NYSE">DY</a>) has strategically positioned itself for significant growth with the acquisition of Black &amp; Veatch&#39;s public carrier wireless telecommunications infrastructure business for $150 million. This acquisition is Dycom&#39;s largest ever in the wireless services space, underlining its strategic importance in strengthening its capabilities in wireless construction services.
The acquisition expands Dycom&#39;s geographic presence, particularly in states like New York, New Jersey, Missouri, Kansas, Colorado, Utah, Wyoming, Idaho, and Montana and provides the company with a stronger presence in these high-demand regions. This expansion is not just about increasing Dycom&#39;s reach but also about diversifying its service offerings. The expansion allows Dycom to more broadly address growth opportunities in wireless network modernization, including Open RAN transformation initiatives and deployment services. With the ongoing transformation of wireless networks, including initiatives like Open RAN, Dycom is now better equipped to meet the evolving needs of its customers.
Financially, this acquisition is a win for Dycom. The newly acquired business is expected to contribute between $250 million and $275 million in contract revenues by fiscal 2026. This forecast underscores the acquisition&#39;s potential to significantly enhance Dycom&#39;s top-line growth and market position in the competitive telecommunications infrastructure sector. Notably, the acquisition is anticipated to add approximately $1 billion to Dycom&#39;s total backlog, further solidifying the company&#39;s future revenue potential and workload.
In summary, Dycom&#39;s acquisition of Black &amp; Veatch&#39;s wireless business is a strategic move that not only expands its market reach but also positions the company to capitalize on the growing opportunities in wireless network modernization, making it a promising investment.
<h2>Telecommunication Business for Dycom</h2>
Since the past few quarters, the company&#39;s top line benefited immensely from the extensive deployment of 1-gigabit wireline networks by major customers. Dycom&#39;s top five customers combined contributed to 54.9% of total revenues in the second quarter of fiscal 2025, with organic growth of 7.1% from these customers. The deployment of gigabit wireline networks, wireless/wireline converged networks, and wireless networks was a key driver behind this growth.
Dycom expects continued strong demand for gigabit wireline and converged wireless/wireline networks. The company emphasized that the appetite for massive fiber deployments is &quot;irreversible&quot; driven by the increasing need for high-capacity networks to support consumer and business broadband services.
<h2>Recent DY Stock Performance</h2>
This Florida-based specialty contracting service provider&#39;s stock has rallied 56% so far this year, compared with the Zacks Building Products - Heavy Construction industry&#39;s 58.3% growth. It has also handily outpaced the Zacks Construction sector&#39;s 14.1% rise and the S&amp;P 500 Index&#39;s 17.5% increase in the same time frame.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a0/75087.jpg?v=1841405751" />
Image Source: Zacks Investment Research
Notably, several areas could be perceived as potential negatives or challenges for the company. DY projected a potential deceleration in organic revenue growth for the fiscal third quarter. While the fiscal second quarter saw 9.2% organic growth, expectations for the fiscal third quarter were mid-to-high single-digit growth. This slowdown was partly due to tougher comparisons from the prior year, where there were significant change orders and project closeouts that boosted revenues.
Also, the company mentioned that August had been a particularly wet month, which could impact operational efficiency and potentially slow down project execution in the fiscal third quarter. This weather factor was specifically noted as a reason for providing more conservative guidance.
Nonetheless, the company also anticipates a slight increase in non-GAAP adjusted EBITDA margins, reflecting continued operational efficiency and integration of recent acquisitions for the fiscal third quarter.
Overall, Dycom&#39;s outlook is positive, with the company positioned to capitalize on ongoing network deployments and government-funded broadband expansion initiatives. The combination of strong customer demand, strategic acquisitions, and a stable economic environment is expected to drive sustained growth in the coming quarters.
<h2>Zacks Rank &amp; Other Key Picks</h2>
Currently, DY carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the Zacks Construction sector:
Howmet Aerospace Inc. presently sports a Zacks Rank #1 (Strong Buy). HWM has a trailing four-quarter earnings surprise of 10.9%, on average. Shares of the company have gained 77.8% year to date (YTD).
The Zacks Consensus Estimate for HWM&#39;s 2024 sales and EPS indicates a rise of 12.6% and 39.1%, respectively, from the prior-year levels.
Sterling Infrastructure, Inc.&nbsp;presently carries a Zacks Rank #2. Sterling Infrastructure has a trailing four-quarter earnings surprise of 17.4%, on average. Shares of the company have gained 30.5% YTD.
The Zacks Consensus Estimate for STRL&#39;s 2024 sales and EPS indicates a rise of 9.7% and 26.6%, respectively, from the prior-year levels.
Quanta Services Inc.&nbsp;presently carries a Zacks Rank #2. PWR has a trailing four-quarter earnings surprise of 4.6%, on average. Shares of the company have gained 24.8% YTD.
The Zacks Consensus Estimate for PWR&#39;s 2024 sales and EPS indicates a rise of 14.2% and 18.3%, respectively, from the prior-year levels.
<a href="https://www.zacks.com/stock/news/2325932/dycom-dy-eyes-275m-revenue-boost-with-150m-black-veatch-deal?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2325932">To read this article on Zacks.com click here.</a>

Dycom Eyes $275M Revenue Boost With $150M Black & Veatch Deal

B of A Securities analyst Alexander Waters maintains Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) with a Buy and raises the price target from $198 to $204.

B of A Securities Maintains Buy on Dycom Industries, Raises Price Target to $204

Dycom Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) reported better-than-expected second quarter <a href="https://www.benzinga.com/news/earnings/24/08/40481768/dycom-beats-on-q2-with-strong-demand-for-infrastructure-services-discloses-value-accretive-buyout">FY25 results on Wednesday.</a>
Contract revenue increased 15.5% Y/Y to $1.203 billion, beating the consensus of $1.196 billion. Adjusted EBITDA increased to $158.3 million from $130.8 million a year ago. Adjusted EPS of $2.46 surpassed the street view of $2.26.
For the third quarter, Dycom anticipates a mid- to high single-digit percentage increase in total contract revenues, which included the company expectation of around $75 million of acquired contract revenues for the quarter.
In a separate release, Dycom revealed the acquisition of Black &amp; Veatch's public carrier wireless telecom infrastructure business, expanding its reach into nine states and boosting its capabilities in wireless network modernization.
Dycom shares fell 2.4% to trade at $175.20 on Thursday.
These analysts made changes to their price targets on Dycom following earnings announcement.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/643e5abb9eebb2000134dbb9/sangita-jain">Keybanc analyst Sangita Jain</a> maintained Dycom Industries with an Overweight and raised the price target from $195 to $200.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="465" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122744/image-204-1024x465.png" alt="" class="wp-image-509141" style="width:555px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122744/image-204-1024x465.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122744/image-204-300x136.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122744/image-204-768x348.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122744/image-204-1536x697.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122744/image-204.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58a3019243eaaa00011f4051/alex-rygiel">B. Riley Securities analyst Alex Rygiel</a> maintained Dycom with a Buy and raised the price target from $205 to $208.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="499" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122814/image-206-1024x499.png" alt="" class="wp-image-509152" style="width:562px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122814/image-206-1024x499.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122814/image-206-300x146.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122814/image-206-768x374.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122814/image-206-1536x749.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/22122814/image-206.png 1723w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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These Analysts Increase Their Forecasts On Dycom Industries After Upbeat Q2 Earnings

Press Releases

Dycom Industries, Inc. to Host Fiscal 2025 Second Quarter Results Conference Call

Dycom Industries, Inc. Announces Fiscal 2025 Second Quarter Results

Dycom Industries, Inc. Acquires Black & Veatch's Public Carrier Wireless Telecommunications Infrastructure Business

Dycom Industries, Inc. to Participate in Upcoming Investor Conferences

Dycom Industries, Inc. to Host Fiscal 2025 Third Quarter Results Conference Call

Dycom Industries, Inc. Announces Fiscal 2025 Third Quarter Results

Dycom Industries, Inc. To Participate in Upcoming Investor Conferences

Dycom Industries, Inc. to Host Fiscal 2025 Fourth Quarter and Annual Results Conference Call

Management

Dycom Industries, Inc. Appoints Jill L. Ramshaw as Vice President and Chief Human Resources Officer

Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Dycom Industries, Inc. (NYSE: DY)

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