|Analyst / Firm||Company||Price||Rating||Price Target||Upside/Downside||Date|
DYCOM INDUSTRIES INCDY
a day ago
#102 out of 3743 analysts
64%18 out of 28
Risk vs Reward
Thielman raised his price target on Dycom Industries, Inc. by 8.7% following the release of the company's Q1 2023 earnings report on 2022/05/25.
The analyst told investors that the company's Q1 results were "substantially" ahead of his estimates.
Dycom's "leverage to wireline deployment" and 5G opportunities were "undeniable and ramping from FY 2022's trough," Thielman added.
For Q1 2023, Dycom reported:
Management guidance for Q2 2023:
Steven E. Nielsen, President & CEO, commented: "Today major industry participants are constructing or upgrading significant wireline networks across broad sections of the country. These wireline networks are generally designed to provision gigabit network speeds to individual consumers and businesses either directly or wirelessly using 5G technologies.
"We are providing program management, planning, engineering and design, aerial, underground, and wireless construction and fulfillment services for gigabit deployments. These services are being provided across the 3 countries in numerous geographic areas to multiple customers.
"These deployments include networks consisting entirely of wired network elements and converged wireless/wireline multi-user networks. Fiber network deployment opportunities are increasing in rural America as new industry participants respond to emerging societal initiatives.
"Macroeconomic effects and supply constraints may influence the near-term execution of some customer plans.
"Broad increases in demand for fiber optic cable and related equipment may cause delivery volatility in the short to intermediate-term.
"In addition, the market for labor remains tight in many regions around the country. It remains to be seen how long this condition persists."
a day ago