Dycom (DY, $62.00) shares plunge almost -30%, on Q4 earnings miss and lower-than-expected Q1 guidance
Dycom Industries stock plummeted nearly -30%, following news of the company’s weaker-than-expected earnings for the fourth quarter, in addition to its lower-than-expected earnings guidance for the forthcoming first quarter.
The specialty contracting services company reported earnings of 10 cents per share for the fourth quarter, which fell short of analysts’ expectations of 15 cents a share.
The company’s fourth quarter revenue of $749 million came in lower than analysts’ estimates of $721 million.
Looking ahead, the company is expecting its first quarter earnings to come in between 34 cents and 56 cents per share, which is below analysts’ expectation of 77 cents per share. The company forecasts revenue to range between $750 million and $800 million, compared to analysts’ prediction of $790 million.
DY in +2.66% Uptrend, rising for three consecutive days on July 26, 2024
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where DY advanced for three days, in of 310 cases, the price rose further within the following month. The odds of a continued upward trend are .
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a provider of engineering, construction, maintenance and installation services to telecommunications providers
Industry EngineeringConstruction