Yahoo Finance Dycom Industries (DY) Declines More Than Market: Some Information for Investors
Dycom Industries (DY) closed at $147.48 in the latest trading session, marking a -1.67% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq decreased by 0.26%.
Prior to today's trading, shares of the provider of specialty contracting services had gained 11.3% over the past month. This has outpaced the Construction sector's gain of 6.18% and the S&P 500's gain of 5.04% in that time.
Investors will be eagerly watching for the performance of Dycom Industries in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 22, 2024. On that day, Dycom Industries is projected to report earnings of $1.39 per share, which would represent a year-over-year decline of 19.65%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.09 billion, indicating a 4.23% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.14 per share and a revenue of $4.49 billion, signifying shifts of -3.12% and +7.6%, respectively, from the last year.
Any recent changes to analyst estimates for Dycom Industries should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% higher within the past month. Currently, Dycom Industries is carrying a Zacks Rank of #2 (Buy).
With respect to valuation, Dycom Industries is currently being traded at a Forward P/E ratio of 20.99. This expresses a premium compared to the average Forward P/E of 17.93 of its industry.
We can additionally observe that DY currently boasts a PEG ratio of 1.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Building Products - Heavy Construction stocks are, on average, holding a PEG ratio of 1.72 based on yesterday's closing prices.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 13, finds itself in the top 6% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Dycom Industries, Inc. (DY) : Free Stock Analysis Report
