On August 29, Dycom declined 5.15% in regular trading, trading at $292.27 per share with turnover of approximately $159 million, extending a multi-day selloff that began following its fiscal Q2 earnings release.

The decline reflects continued selling pressure driven by disappointing fiscal Q3 EPS guidance that overshadowed otherwise strong Q2 results. The company reported adjusted EPS of $5.29, beating the $4.72 consensus estimate by 12%, while contract revenue of $2.01 billion also exceeded the $1.98 billion forecast. However, soft Q3 earnings guidance fell below market expectations, and the full-year contract revenue outlook was raised only modestly to $7.48–$7.66 billion from $7.38–$7.65 billion, a muted adjustment compared to the substantial upward revision last quarter that had sent shares surging 28%.

Multiple analysts have since cut their price targets. Notably, UBS lowered its target from $611 to $525 while maintaining a Buy rating. The stock has now fallen sharply from pre-earnings levels despite a record $12.2 billion backlog and a newly approved $150 million buyback plan, as investors remain focused on the near-term earnings deceleration implied by Q3 guidance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)