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Dycom Industries (DY) Stock Jumps 4.3%: Will It Continue to Soar?

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Dycom Industries (DY - Free Report) shares ended the last trading session 4.3% higher at $100.39. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.8% gain over the past four weeks.

The upside was driven by the company's solid prospects buoyed by higher demand for network bandwidth and mobile broadband, extended geographic reach along with proficient program management and network planning services.

This provider of specialty contracting services is expected to post quarterly earnings of $0.99 per share in its upcoming report, which represents a year-over-year change of +65%. Revenues are expected to be $928.38 million, up 17.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Dycom Industries, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on DY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Dycom Industries is part of the Zacks Building Products - Heavy Construction industry. Orion Marine Group (ORN - Free Report) , another stock in the same industry, closed the last trading session 3.5% higher at $2.38. ORN has returned -13.5% in the past month.

Orion Marine's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. Compared to the company's year-ago EPS, this represents a change of -220%. Orion Marine currently boasts a Zacks Rank of #4 (Sell).


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