Wall Street analysts forecast that Dycom Industries (DY) will report quarterly earnings of $1.66 per share in its upcoming release, pointing to a year-over-year increase of 41.9%. It is anticipated that revenues will amount to $1.29 billion, exhibiting an increase of 18.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 17% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Dycom Industries metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Revenue By Customer- AT&T Inc' at $349.15 million. The estimate suggests a change of +38.8% year over year.
Based on the collective assessment of analysts, 'Revenue By Customer- Lumen Technologies' should arrive at $158.01 million. The estimate indicates a year-over-year change of +52.7%.
It is projected by analysts that the 'Backlog' will reach $8.69 billion. Compared to the current estimate, the company reported $7.76 billion in the same quarter of the previous year.
View all Key Company Metrics for Dycom Industries here>>>
Shares of Dycom Industries have demonstrated returns of +15.1% over the past month compared to the Zacks S&P 500 composite's -0.5% change. With a Zacks Rank #5 (Strong Sell), DY is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Dycom Industries, Inc. (DY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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