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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 ORD

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.

Analyst Ratings

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.

News

Price Target

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>

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GLDD

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

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>

Contracts

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

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>

Guidance

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

B. Riley Securities analyst Alex Rygiel 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 $205 to $208.

B. Riley Securities Maintains Buy on Dycom Industries, Raises Price Target to $208

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) in the last three months.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding 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;">2</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;">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>3M Ago</td>
<td style="text-align: right;">2</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>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $200.75, a high estimate of $205.00, and a low estimate of $198.00. This current average reflects an increase of 12.78% from the previous average price target of $178.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1724328095_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</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>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>
<tr>
<td>Alex Rygiel</td>
<td>B. Riley Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$205.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Alexander Waters</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$198.00</td>
<td>$160.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Dycom Industries. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning 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 set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</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>Get to Know Dycom Industries Better</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>Breaking Down Dycom Industries's Financial Performance</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Dycom Industries's remarkable performance in 3 months is evident. As of 30 April, 2024, the company achieved an impressive revenue growth rate of 9.27%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Dycom Industries's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.48% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Dycom Industries's ROE stands out, surpassing industry averages. With an impressive ROE of 5.86%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Dycom Industries's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.44% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Dycom Industries's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.87, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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 $195 to $200.

Keybanc Maintains Overweight on Dycom Industries, Raises Price Target to $200

Wall Street trimmed early session gains on Wednesday after official government data downwardly revised nonfarm payrolls by 818,000 from previous estimates between <a href="https://www.benzinga.com/markets/equities/24/08/40489714/traders-raise-bets-on-aggressive-rate-cuts-as-us-economy-sees-818-000-jobs-revised-away-7-etfs-r">April 2023 and March 2024. </a>This adjustment suggests that the labor market&#8217;s strength was not as robust as investors had initially believed.
By midday trading in New York, major U.S. indices hovered slightly above the flatline, with both the S&amp;P 500 and the Nasdaq 100 adding mild gains after snapping an eight-day winning streak on Tuesday. Blue-chip stocks were flat, while small-cap stocks managed to rise by 0.6%.
Traders are now eagerly awaiting further insights on monetary policy from the minutes of the Federal Reserve Open Market Committee&#8217;s July meeting, scheduled for release at 2:00 p.m. ET.
Meanwhile, speculators have increased their expectations of a 50-basis-point rate cut in September, assigning a 32.5% probability to this scenario in response to the downward revisions of the annual nonfarm payrolls. Market participants are fully pricing in 100 basis points, equivalent to a full percentage point, in cuts by the end of the year.
The U.S. dollar is experiencing its fourth consecutive session of losses, while Treasury yields are dropping on the shorter end of the curve, with the policy-sensitive 2-year note seeing yields tumble by 6 basis points to 3.92%.
Gold is down slightly, off by 0.3%, while oil prices are down 1.2%, with West Texas Intermediate crude projected to close at its lowest levels since early February 2024.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 1% but remains below the $60,000 mark.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,152.99</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,606.52</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,747.92</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,818.92</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. </figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $559.67.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;stalled at $408.62.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.2% higher to $481.13.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $214.01.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, both up by 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down by 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) rallied over 12% on stronger-than-expected quarterly results. The retail giant also witnessed several analysts raising their price target on the stock. </li>
<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) plummeted 13% after reducing revenue guidance for the fiscal year. </li>
<li>Other major companies reacting to earnings were TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) up 6.2%, Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), Dycom Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>), down 8.5%, Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>), up 12%, Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), up 5.9% and Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), up 6.1%. </li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rose 1.4% after announcing to halt production of an all-electric three-row SUV. </li>
</ul>
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KEYS

Stocks Trim Gains On Slower Jobs Growth, Dollar Falls Ahead Of Fed Minutes; Target Rallies, Macy's Tumbles: What's Driving Markets Wednesday?

WIIM

Dycom Industries shares are trading lower. The company reported Q2 financial results and announced an acquisition.

Dycom Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) shares are trading lower after the company reported its&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40480363/dycom-industries-inc-announces-fiscal-2025-second-quarter-results" rel="noreferrer noopener">second quarter&nbsp;FY25 results</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 <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">the street view of $2.26</a>.
In the quarter ending July 27, the company revised its credit agreement to increase term loan capacity and extend the maturity date to January 2029. As of July 27, cash and equivalents stood at $19.6 million.
Outlook: For the&nbsp;third quarter, Dycom anticipates a mid- to high single-digit percentage increase in total contract revenues, which included the company expectation&nbsp;of around&nbsp;$75&nbsp;million&nbsp;of acquired contract revenues for the quarter.
Adjusted EBITDA margin is projected to increase by about 25 to 50 basis points Y/Y, excluding the 1.8% incremental EBITDA margin benefit from change orders and project closeouts reported in the prior year.
In a separate release, Dycom revealed the acquisition of Black &amp; Veatch&#8217;s public carrier wireless telecom infrastructure business, expanding its reach into nine states and boosting its capabilities <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40480476/dycom-industries-inc-acquires-black-veatchs-public-carrier-wireless-telecommunications-infrastruct" rel="noreferrer noopener">in wireless network modernization</a>.
The acquisition is projected to contribute $250 million to $275 million in contract revenues for fiscal 2026.
Investors can gain exposure to the stock via&nbsp;The Advisors&#8217; Inner Circle Fund III Strategas Macro Momentum ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAMM#NYSE">SAMM</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 down 1.13% at $192.00 premarket at the last check Wednesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SAMM

SMCO

Dycom Beats On Q2 With Strong Demand For Infrastructure Services, Discloses Value-Accretive Buyout

Dycom Industries Expects The Acquired Business To Contribute $250M To $275M Of Contract Revenues For Fiscal 2026

Dycom Industries Announced The Acquisition Of Black & Veatch's Public Carrier Wireless Telecommunications Infrastructure Business For An Undisclosed Amount

For Q3 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 $2.46 per share which beat the analyst consensus estimate of $2.26 by 8.85 percent. The company reported quarterly sales of $1.203 billion which beat the analyst consensus estimate of $1.196 billion by 0.56 percent. This is a 15.45 percent increase over sales of $1.042 billion the same period last year.

Earnings Beats

Dycom Industries Q2 2025 Adj. EPS $2.46 Beats $2.26 Estimate, Sales $1.203B Beat $1.196B Estimate

Dycom Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dy#NYSE">DY</a>) is scheduled to report second-quarter fiscal 2025 (ended on Jul 27, 2024) results on Aug 21, before the opening bell.
In the last reported quarter, the company&#39;s earnings beat the Zacks Consensus Estimate by 52.5% and increased 22.5% from a year ago. Contract revenues increased 9.3% year over year and topped the consensus mark by 4.8%.
This specialty contracting services provider surpassed earnings estimates in three of the trailing four quarters, with an average of 30.2%.
<h3>Earnings &amp; Revenue Expectations</h3>
The Zacks Consensus Estimate for Dycom&#39;s fiscal second-quarter earnings per share has moved up to $2.18 from $2.15 in the past 60 days. The estimated figure indicates a 7.4% increase on a year-over-year basis.
<div class="chart_embed">
<h3>Dycom Industries, Inc. Price and EPS Surprise</h3>
<img alt="Dycom Industries, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/2f/1724071608.png" style="height:263px; width:544px" title="" />
Dycom Industries, Inc. price-eps-surprise | Dycom Industries, Inc. Quote
The consensus estimate for revenues is pegged at $1.19 billion, indicating a 14.7% year-over-year rise.
</div>
<h3>Factors to Note</h3>
Dycom&#39;s revenues and EPS are expected to have increased in the to-be-reported quarter, given the strong contribution from the Bigham acquisition. DY is banking on increased demand for network bandwidth and mobile broadband, an extended geographic reach, proficient program management and network planning services. Moreover, improving demand trends among DY&#39;s top five customers and all other customers are likely to have contributed to the top line.
For the fiscal second quarter, DY expects contract revenues to grow by high-single digits year over year. Additionally, it expects $70 million of acquired contract revenues for the quarter. The adjusted EBITDA margin is expected to increase 25-75 bps from the year-ago levels.
Our model predicts the fiscal second-quarter revenues in the Telecommunications segment (excluding Bigham acquisition) to be $994 million, indicating a rise of 7.2% from the prior-quarter figure. Revenues for the Underground Facility unit are pegged at $84.1 million, up 9.6% from the prior-quarter level. The consensus mark for Electrical and gas utilities and other business revenues is pegged at $41.4 million, indicating an increase of 9.9% year over year.
Our model projects an adjusted EBITDA margin of 13%, up from 12.6% reported a year ago.
For the fiscal second quarter, we expect a backlog of $6.54 billion, indicating an increase from $6.21 billion reported in the prior quarter.
However, challenges such as labor shortages and increased costs are expected to have exerted pressure on Dycom&#39;s quarterly performance. Fluctuations in oil prices pose a significant obstacle for DY, as higher fuel prices directly impact the cost of doing business.
<h3>What the Zacks Model Says</h3>
Our proven model does not conclusively predict an earnings beat for Dycom this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here, as you will see below.
Dycom currently has an Earnings ESP of 0.00%.
Presently, DY carries a Zacks Rank #2.
<h3>Recent Construction Releases</h3>
Martin Marietta Materials, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mlm#NYSE">MLM</a>) reported tepid results for second-quarter 2024, with earnings and revenues missing the Zacks Consensus Estimate. Both the top and bottom lines decreased on a year-over-year basis.
MLM witnessed historic precipitation in Texas and parts of the Midwest, along with ongoing restrictive monetary policy and curtailed volumes, thanks to April and May&#39;s historically wet weather. Owing to the slowing product demand in the interest-rate-sensitive private construction sector, the company lowered its full-year adjusted EBITDA guidance to $2.2 billion at the midpoint.
Vulcan Materials Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmc#NYSE">VMC</a>) reported dismal second-quarter 2024 results, with earnings and revenues missing their respective Zacks Consensus Estimate. On a year-over-year basis, earnings increased, but revenues declined due to lower Aggregate shipments.
For 2024, Vulcan now anticipates adjusted EBITDA in the range of $2.00-$2.15 billion, up from the prior projection of $2.15-$2.30 billion. This indicates a 3.2% improvement from 2023 levels, considering the mid-point of the guidance. Net earnings are now expected to be in the range of $0.95-$1.07 billion (up from the prior projection of $1.07-$1.19) versus $933 million in the prior year.
KBR, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbr#NYSE">KBR</a>) reported mixed second-quarter 2024 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. The top and bottom lines increased on a year-over-year basis.
KBR performed well across key metrics and expects this trend to continue for the rest of the year. Driven by robust performance in its core business, KBR raised its adjusted EBITDA and cash flow guidance for 2024.
<a href="https://www.zacks.com/stock/news/2323812/dycom-dy-gears-up-to-report-q2-earnings-what-s-in-store?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2323812">To read this article on Zacks.com click here.</a>

Dycom Gears Up to Report Q2 Earnings: What's in Store?

Workday, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wday#NASDAQ">WDAY</a>) is set to release second-quarter fiscal 2025 results on Aug 22, after the closing bell. It pulled off a trailing four-quarter earnings surprise of 10.89%, on average.
Based in Pleasanton, CA, WDAY is expected to have recorded higher revenues on the back of solid demand for its human capital management (HCM) and financial management solutions across different end markets.
<h3>Factors at Play</h3>
During the quarter, Workday witnessed solid traction for the Workday Government Cloud solution as U.S. federal entities speed up their HR process modernization efforts. The Workday Government Cloud offers essential tools and insights, enabling organizations to optimize their workforce efficiently. Defense Intelligence Agency and a prominent U.S. federal organization have opted to utilize Workday Government Cloud to enhance and streamline their HR processes. This is likely to have generated incremental revenues in the second quarter.
In the quarter under review, WDAY collaborated with Google to expedite intelligent AI native app development in the Workday Extend platform. Under this collaboration, the company also launched its technology platforms in the Google Cloud Marketplace.
The company also inked a strategic partnership with Salesforce to develop a cutting-edge artificial intelligence employee service agent that will revolutionize workplace efficiency and employee satisfaction. The collaboration with the industry leader is likely to have expanded Workday&#39;s portfolio and improved its commercial prospects.
In the fiscal second quarter, Clemson University opted to deploy its comprehensive solution suite to accelerate digital transformation across university operations. The solution suite includes Workday Financial Management, Human Capital Management and Workday Strategic Sourcing solutions. This is likely to have had a positive impact on Workday&#39;s second-quarter performance.
Our estimate for Subscription Services revenues is pegged at $1.89 billion, suggesting 16.7% year-over-year growth. Our estimate for Professional Services revenues is pegged at $174.6 million.
For the July quarter, the Zacks Consensus Estimate for revenues is pegged at $2.07 billion, suggesting an increase from the year-ago quarter&#39;s reported figure of $1.79 billion. The consensus estimate for adjusted earnings per share is pegged at $1.63, calling for an increase from $1.43 reported in the prior year.
<h3>Earnings Whispers</h3>
Our proven model does not predict an earnings beat for Workday for the fiscal second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%, with both pegged at $1.63.
<div class="chart_embed">
<h3>Workday, Inc. Price and EPS Surprise</h3>
<img alt="Workday, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/36/1723820388.png" style="height:263px; width:545px" title="" />
Workday, Inc. price-eps-surprise | Workday, Inc. Quote
Zacks Rank: Workday currently carries a Zacks Rank #3.
</div>
<h3>Stocks to Consider</h3>
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
TJX Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tjx#NYSE">TJX</a>) is set to release quarterly numbers on Aug 21. It has an Earnings ESP of +3.62% and a Zacks Rank #3.
Lancaster Colony Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lanc#NASDAQ">LANC</a>) is scheduled to report quarterly numbers on Aug 22. It has an Earnings ESP of +1.07% and carries a Zacks Rank of 3.
The Earnings ESP for Dycom Industries (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dy#NYSE">DY</a>) is +6.26%. The company carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Aug 21.
<a href="https://www.zacks.com/stock/news/2323335/will-top-line-expansion-improve-workday-s-wday-q2-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2323335">To read this article on Zacks.com click here.</a>

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LANC

WDAY

Will Top-Line Expansion Improve Workday's Q2 Earnings?

For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Dycom Industries (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dy#NYSE">DY</a>) one of those stocks right now? A quick glance at the company&#39;s year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Dycom Industries is a member of our Construction group, which includes 91 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Dycom Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DY&#39;s full-year earnings has moved 12.2% higher. This signals that analyst sentiment is improving and the stock&#39;s earnings outlook is more positive.
According to our latest data, DY has moved about 61.9% on a year-to-date basis. Meanwhile, the Construction sector has returned an average of 12.6% on a year-to-date basis. As we can see, Dycom Industries is performing better than its sector in the calendar year.
Grafton Group PLC (OTC: <a class="ticker" href="https://www.benzinga.com/stock/grouf#OTC">GROUF</a>) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 89.5%.
Over the past three months, Grafton Group PLC&#39;s consensus EPS estimate for the current year has increased 4.9%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Dycom Industries belongs to the Building Products - Heavy Construction industry, a group that includes 10 individual stocks and currently sits at #11 in the Zacks Industry Rank. This group has gained an average of 55.4% so far this year, so DY is performing better in this area.
Grafton Group PLC, however, belongs to the Building Products - Miscellaneous industry. Currently, this 27-stock industry is ranked #67. The industry has moved +9.5% so far this year.
Dycom Industries and Grafton Group PLC could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
<a href="https://www.zacks.com/stock/news/2322584/are-construction-stocks-lagging-dycom-industries-dy-this-year?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_1-2322584">To read this article on Zacks.com click here.</a>

GROUF

Are Construction Stocks Lagging Dycom Industries This Year?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Dycom Industries (NYSE:<a href="https://investorplace.com/stock-quotes/dy-stock-quote/">DY</a>) just reported results for the second quarter of 2025.<ul><li>Dycom Industries reported earnings per share of $2.46. This was above the analyst estimate for EPS of $2.26.</li><li>The company reported revenue of $1.20 billion.</li><li>This was 0.25% better than the analyst estimate for revenue of $1.20 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/dy-stock-earnings-dycom-industries-for-q2-of-2025/">DY Stock Earnings: Dycom Industries Beats EPS, Beats Revenue for Q2 2025</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

DY Stock Earnings: Dycom Industries Beats EPS, Beats Revenue for Q2 2025

Dycom Industries: Favorable Industry Trends And Strategic Acquisition

Dycom ( ($DY) ) has provided an update. Dycom Industries, Inc. is set to welcome Kevin M. Wetherington as the new Executive Vice President and Chie...

Dycom Announces Leadership Reshuffle with New COO

Dycom ( ($DY) ) has shared an update. Dycom Industries, Inc. will part ways with Vice President and Chief Human Resources Officer Jason T. Lawson o...

Dycom Announces Involuntary Termination of VP Lawson

It is Fall clean up time. Sell lagging and sagging companies.

Blue Skies, New Highs Remain Disciplined And Do Not Chase Extended Ideas

The market is supposed to ebb and flow…all we see these days is flow.

Market Momentum Is In Full Gear - Be Choosy And Do Not Chase

It is more of a stock pickers market than usual as momentum factors are currently exaggerated.

Momentum Has Narrowed Again, Significantly

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Press Releases

Dycom Industries, Inc. to Participate in Upcoming Investor Conferences

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

Dycom Industries, Inc. Announces Fiscal 2025 First Quarter Results

Dycom Announces Planned Leadership Transition

Short Sellers

Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on Zebra Technologies Corp. (NASDAQ: ZBRA)

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

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