What Happened?
Shares of telecommunications company Dycom (NYSE:DY) fell 9.8% in the afternoon session after the company reported weak fourth-quarter 2024 results: Its revenue and EBITDA guidance for the next quarter fell short of Wall Street's estimates. On the other hand, Dycom beat analysts' revenue, EBITDA, and EPS expectations this quarter. Overall, this was a mixed yet weaker quarter.
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What The Market Is Telling Us
Dycom’s shares are not very volatile and have only had 9 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Dycom is down 8.4% since the beginning of the year, and at $161.81 per share, it is trading 20.2% below its 52-week high of $202.82 from October 2024. Investors who bought $1,000 worth of Dycom’s shares 5 years ago would now be looking at an investment worth $5,348.
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