NYSE:DY

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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which m

Fintel reports that on October 3, 2023, B of A Securities initiated coverage of Dycom Industries (NYSE:DY) with a Buy recommendation.

Wall Street watches a company's quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.

For Immediate ReleaseChicago, IL – September 27, 2023 – Today, Zacks Equity Research discusses EMCOR Group Inc. EME, Dycom Industries, Inc. DY and Primoris Services Corp. PRIM.

A month has gone by since the last earnings report for Dycom Industries (DY). Shares have lost about 7.1% in that time frame, underperforming the S&P 500.

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We’ve gotten a start on this, looking up the data on 2 top-rated stocks that have also earned the Smart Score’s Perfect 10. Here are the details, from the , along with comments from some of the Wall Street analysts. TipRanks databanks Dycom Industries ()DY The most urgent need in any business, even more important than the right equipment or a proper facility, is people. Every business, in every field, needs skilled people, doing the work. That’s the role that Dycom fills in the telecommunications industry. Dycom is a contract service provider, with a workforce 15,000 strong made available for a wide range of jobs – planning, engineering, maintenance, wireless construction. If the telecom industry needs it done, Dycom can supply the right workers. Dycom is a holding company, conducting its operations through a network of 37 subsidiaries. The firm operates out of 556 locations across 49 states and has the scale to meet the needs of both urban and rural regions. There are plenty of growth opportunities in the telecom field, from the continuing 5G rollout to the expansion of fiber networks worldwide to the development of new technologies, and Dycom has leveraged its ability to staff those positions into strong financial performance. The company saw revenues of $1.04 billion in its last quarterly report, for fiscal 2Q24, a total that was up 7% year-over-year and beat the forecast by $10 million. This revenue translated to earnings of $2.03 per share, or 35 cents per share ahead of expectations. On the balance sheet, the company finished the quarter with $1.555 billion in total current assets, compared to $1.492 billion six months earlier. The Q2 assets included $83.38 million in cash. For Craig-Hallum’s 5-star analyst Christian Schwab, the key point to Dycom is the company’s ability to take part in expansions of the national telecom network, fiber buildouts especially. Schwab writes, “Management expects spending from AT&T to normalize heading into next year and we continue to believe that beyond near-term customer spending fluctuations Dycom remains positioned well for longer term growth. Secular trends for expanding fiber deployments to support gigabit-plus broadband connectivity speeds, wireless backhaul, and wireline/wireless converged networks remain intact, along with significant rural fiber deployment opportunities with support from federal and state initiatives for unserved or underserved areas across the country.” These comments back up the analyst’s Buy rating on the stock, and his $124 price target indicates his confidence in a 29% one-year upside. (To watch Schwab’s track record, ) click here The Strong Buy consensus rating on DY is based on 5 recent analyst reviews, that include 4 to Buy against 1 to Hold. The shares are selling for $95.79 and the average price target, $125.40, is slightly more bullish than Schwab’s, suggesting a 31% gain in the next 12 months. (See ) Dycom stock forecast Riot Platforms()RIOT Next up, Riot, is a bitcoin miner, with its data center mining ops located in Texas and its ancillary supporting operations based in Denver, Colorado. The company's chief mining data center is the Rockdale Facility, which is North America’s largest single bitcoin mining facility and boasts 700 megawatts in developed capacity. Overall, Riot’s bitcoin mining operates with a deployed hashrate of 10.7 EH/s. That hashrate is based on the company’s total deployment of 95,904 mining rigs. Riot, which already has one of the largest fleets of bitcoin miners installed and deployed, has plans to continue its expansion and to reach a deployed hashrate of 12.5 EH/s by the end of this year. Bitcoin miners make their living by validating and recording transactions on the network and being rewarded for the work with coins, i.e., they mine bitcoins. It takes enormous computing power to do this, so the companies have high overheads – but they can sell off some of the bitcoins produced to fund current operations. In the company’s last quarter, 2Q23, Riot reported a top line of $76.7 million, up 5% year-over-year but missing the forecast by $8.76 million. The bottom line, while showing a loss of 17 cents per share, was 3 cents better than had been anticipated. Since those figures were released, the company has published monthly results for August. In the August report, Riot showed that it generated 333 bitcoins for the month. This was down 11% from August of last year and down 19% from July of this year. The company’s bitcoin holdings, however, have been increasing, as its production still far exceeds its liquidity needs; Riot has 7,309 bitcoins on hand as of August 31, for a 9% year-over-year increase. Riot’s bitcoin sales in August netted $8.6 million, up 12% year-over-year. The data shows potential here, and Cantor Fitzgerald analyst Josh Siegler sees it, too. He takes a bullish view of Riot, writing of the stock, “We continue to believe that RIOT represents the best-in-class Bitcoin miner with significant scale, low energy costs, and no long-term debt. Heading into the halving, we believe Riot is in a unique position to continue to gain share in the Bitcoin mining industry. As a result, Riot remains our top pick in our Bitcoin mining coverage.” For Siegler, this adds up to an Overweight (Buy) rating, and his $23 price target implies a one-year upside potential of 124%. (To watch Siegler’s track record, ) click here This bitcoin miner’s Strong Buy consensus rating is based on 8 recent analyst reviews, unanimously positive. The stock’s average price target, of $19.94, suggests it will gain 94% this year from the share price of $10.28. (See ) RIOT stock forecast To find good ideas for stocks trading at attractive valuations, visit TipRanks’ , a newly launched tool that unites all of TipRanks’ equity insights.  Best Stocks to Buy Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Fintel reports that on August 24, 2023, B. Riley Securities reiterated coverage of Dycom Industries (NYSE:DY) with a Neutral recommendation.

Fintel reports that on August 24, 2023, Wells Fargo maintained coverage of Dycom Industries (NYSE:DY) with a Overweight recommendation.

Dycom Industries, Inc. DY acquired Bigham Cable Construction, Inc., a telecommunications construction services provider in the southeastern United States. Bigham generated approximately $140 million in revenues in the last twelve

Dycom Industries (DY) came out with quarterly earnings of $2.03 per share, beating the Zacks Consensus Estimate of $1.66 per share. This compares to earnings of $1.46 per share a year ago. These figures are adjusted for non-recurr

(RTTNews) - Dycom Industries, Inc. (DY) reported second-quarter net income of $60.2 million, or $2.03 per share, compared to $43.9 million, or $1.46 per share, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.6

The following companies are expected to report earnings prior to market open on 08/23/2023. Visit our Earnings Calendar for a full list of expected earnings releases.Analog Devices, Inc. (ADI)is reporting for the quarter ending July 31, 2023. The semiconductor company's consensu

Fintel reports that on August 21, 2023, UBS maintained coverage of Dycom Industries (NYSE:DY) with a Buy recommendation.

Workday, Inc. WDAY is set to release second-quarter fiscal 2024 results on Aug 24, after market close. In the last reported quarter, the company delivered an earnings surprise of 18.02%. It pulled off a trailing four-quarter earni

Splunk Inc. SPLK is set to release second-quarter fiscal 2024 results on Aug 23, after market close. In the last reported quarter, the company delivered an earnings surprise of 205.88%. It pulled off a trailing four-quarter earnin