Telecommunications company Dycom (NYSE: DY) will be reporting results this Wednesday before market open. Here’s what to expect.
Dycom beat analysts’ revenue expectations last quarter, reporting revenues of $1.46 billion, up 34.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue and EBITDA estimates.
Is Dycom a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Dycom’s revenue to grow 33% year on year, improving from the 10.2% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Dycom rarely misses Wall Street’s revenue estimates.
Looking at Dycom’s peers in the engineering and design services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Sterling delivered year-on-year revenue growth of 91.6%, beating analysts’ expectations by 39.5%, and EMCOR reported revenues up 19.7%, topping estimates by 10.3%. Sterling traded up 52.2% following the results while EMCOR was also up 3.2%.
Read our full analysis of Sterling’s results here and EMCOR’s results here.
Investors in the engineering and design services segment have had steady hands going into earnings, with share prices flat over the last month. Dycom is down 1.3% during the same time and is heading into earnings with an average analyst price target of $473.82 (compared to the current share price of $411).
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