Why Dycom Industries (DY) Could Be Positioned for a Surge

Dycom Industries, Inc. DY is a provider of specialty contracting services that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Dycom Industries could be a solid choice for investors.

Current Quarter Estimates for DY

In the past 30 days, three estimates have gone higher for Dycom Industries while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 81 cents a share 30 days ago, to $1.06 today, a move of 30.9%.

Current Year Estimates for DY

Meanwhile, Dycom Industries’ current year figures are also looking quite promising, with four estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.05 per share 30 days ago to $2.82 per share today, an increase of 37.6%.

Dycom Industries, Inc. Price and Consensus

Dycom Industries, Inc. Price and Consensus

Dycom Industries, Inc. price-consensus-chart | Dycom Industries, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 15.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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