Dycom Industries, Inc.
DY · NYSE
Analyst ratings
strong_buy · 9 ratings
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| June 1, 2026 | Keybanc | Maintains | Overweight | $610.00 |
| May 29, 2026 | Cantor Fitzgerald | Maintains | Overweight | $654.00 |
| May 28, 2026 | JP Morgan | Maintains | Overweight | $650.00 |
| May 28, 2026 | Wells Fargo | Maintains | Overweight | $650.00 |
| May 28, 2026 | B. Riley Securities | Maintains | Buy | $625.00 |
| May 28, 2026 | Guggenheim | Maintains | Buy | $620.00 |
| March 27, 2026 | Cantor Fitzgerald | Reiterates | Overweight | $436.00 |
| March 5, 2026 | JP Morgan | Maintains | Overweight | $415.00 |
| March 5, 2026 | B. Riley Securities | Maintains | Buy | $485.00 |
| March 5, 2026 | Keybanc | Maintains | Overweight | $482.00 |
| February 25, 2026 | B of A Securities | Maintains | Buy | $475.00 |
| February 4, 2026 | JP Morgan | Maintains | Overweight | $395.00 |
| January 12, 2026 | UBS | Maintains | Buy | $400.00 |
| November 21, 2025 | B. Riley Securities | Maintains | Buy | $420.00 |
| November 21, 2025 | Keybanc | Maintains | Overweight | $392.00 |
| November 21, 2025 | B of A Securities | Maintains | Buy | $365.00 |
| November 20, 2025 | UBS | Maintains | Buy | $373.00 |
| November 20, 2025 | JP Morgan | Maintains | Overweight | $370.00 |
| November 20, 2025 | DA Davidson | Maintains | Buy | $390.00 |
| November 20, 2025 | Wells Fargo | Maintains | Overweight | $360.00 |
| November 14, 2025 | Wells Fargo | Maintains | Overweight | $315.00 |
| October 20, 2025 | Keybanc | Maintains | Overweight | $320.00 |
| October 13, 2025 | UBS | Maintains | Buy | $336.00 |
| September 29, 2025 | B of A Securities | Maintains | Buy | $310.00 |
| September 26, 2025 | Wells Fargo | Maintains | Overweight | $305.00 |
Revenue growth sustainability and telecom customer concentration risk
Dycom's raised FY2027 contract revenue guidance to US$7.38–$7.65 billion signals strong demand for fiber and utility infrastructure. The company's large project pipeline, supported by sustained telecom and data center spending, underpins confidence in continued top-line expansion toward a projected $9.7 billion by 2029.
Dycom's revenue is heavily concentrated among a handful of major telecom clients, creating significant downside risk. Any pullback in spending by key customers could rapidly derail revenue targets, and the wide spread in fair value estimates — ranging from $370.92 to $637.27 — reflects deep uncertainty about revenue execution.
Earnings growth trajectory and forward estimates reliability
Analyst consensus projects meaningful earnings growth, with net income forecast to rise 21% next year and a consensus price target of $637.27 — implying over 54% upside from current levels. Dycom's recent earnings beat of 30.63% above estimates further supports confidence in the company's ability to deliver on forecasts.
Forward earnings estimates show a decelerating growth profile, with next year's projected increase of $3.38 per share representing a notable step-down from the current year's $5.46 per share. Technical indicators including a negative MACD and RSI below 40 suggest the market is already pricing in downside risk to these estimates.
Impact of Russell index reclassification on institutional demand and valuation
Dycom's addition to the Russell 1000, Russell Midcap, and related growth and value sub-indices in June 2026 broadens its institutional investor base and increases passive fund ownership. This expanded visibility arrives precisely as analysts highlight improving earnings estimates and strong cash flow generation, potentially providing a structural uplift to the stock.
While index reclassification may modestly improve trading liquidity, it does not alter Dycom's underlying business fundamentals or resolve execution risk. Financhill's current stock score of 50/100 — at its historic median — combined with the stock trading below its 5, 20, and 50-day exponential moving averages, suggests index inclusion alone is insufficient to drive sustained outperformance.