Dycom Industries Inc. (NYSE: DY) stock jumped 4.87% on Friday to $98.78 against a previous-day closing price of $94.19. With 0.29 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.26 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $99.05 whereas the lowest price it dropped to was $94.13. The 52-week range on DY shows that it touched its highest point at $105.28 and its lowest point at $64.77 during that stretch. It currently has a 1-year price target of $120.62. Beta for the stock currently stands at 1.43.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DY was down-trending over the past week, with a drop of -1.60%, but this was up by 3.45% over a month. Three-month performance surged to 10.95% while six-month performance rose 13.93%. The stock gained 47.63% in the past year, while it has gained 5.35% so far this year. A look at the trailing 12-month EPS for DY yields 2.20 with Next year EPS estimates of 5.26. For the next quarter, that number is 0.99. This implies an EPS growth rate of 59.40% for this year and 53.24% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -20.40%.
Float and Shares Shorts:
At present, 29.64 million DY shares are outstanding with a float of 28.40 million shares on hand for trading. On Apr 28, 2022, short shares totaled 1.13 million, which was 3.81% higher than short shares on Mar 30, 2022. In addition to Mr. Steven E. Nielsen as the firm’s Chairman, Pres & CEO, Mr. H. Andrew DeFerrari serves as its Sr. VP, CFO & Treasurer.
Institutional Ownership:
Through their ownership of 94.45% of DY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.23% of DY, in contrast to 47.49% held by mutual funds. Shares owned by individuals account for 47.32%. As the largest shareholder in DY with 9.85% of the stake, BlackRock Fund Advisors holds 2,909,335 shares worth 2,909,335. A second-largest stockholder of DY, The Vanguard Group, Inc., holds 2,656,475 shares, controlling over 8.99% of the firm’s shares. AllianceBernstein LP is the third largest shareholder in DY, holding 2,193,403 shares or 7.42% stake. With a 2.90% stake in DY, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 856,472 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.80% of DY stock, is the second-largest Mutual Fund holder. It holds 828,235 shares valued at 77.06 million. American Century Small Cap Value holds 2.71% of the stake in DY, owning 800,000 shares worth 74.43 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DY since 8 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DY analysts setting a high price target of $128.00 and a low target of $110.00, the average target price over the next 12 months is $120.63. Based on these targets, DY could surge 29.58% to reach the target high and rise by 11.36% to reach the target low. Reaching the average price target will result in a growth of 22.12% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DY will report FY 2023 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of $3.96 being high and $3.08 being low. For DY, this leads to a yearly average estimate of $3.43. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Dycom Industries Inc. surprised analysts by $0.42 when it reported $0.57 EPS against a consensus estimate of $0.16. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is $1.06 and the low estimate is $0.92. The average estimate for the next quarter is thus $0.99.
Summary of Insider Activity:
Insiders traded DY stock several times over the past three months with 13 Buys and 1 Sells. In these transactions, 21,637 shares were bought while 204 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 59,459 while 25,919 shares were sold.
