Dycom (DY) Investors Await Word on AT&T (T) CAPEX, Analysts Say "Far From Over"

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Imperial Capital maintained an Outperform rating on Dycom Industries (NYSE: DY) with a price target of $21.00. Dycom is scheduled to report fiscal 1Q results on November 19th and the street is calling for EPS of 34 cents vs. last year's EPS of 38 cents.

"On the call, we will look for commentary on the potential impact of the recent (announcement by AT&T (Dycom’s largest customer) to spend an incremental $14bn on building out its wireless and wireline networks over the next three years," said analyst Richard Paget.

Paget said that after Dycom's last earnings call, some investor were concerned that telecom capex was waning. However, he believes AT&T plans suggest its spending cycle is "far from over".

For an analyst ratings summary and ratings history on Dycom Industries click here. For more ratings news on Dycom Industries click here.

Shares of Dycom Industries closed at $14.95 yesterday, with a 52 week range of $13.04-$23.96.

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