Stock Alert: Dycom Industries Touches New 52-week Low

(RTTNews) - Shares of Dycom Industries Inc. (DY) are falling more than 22 percent in the morning trade on Wednesday to a new 52-week low of $32.66, after the specialty contracting service provider's loss for the fourth quarter came in wider than analysts' estimates and it provided a disappointing outlook for the first quarter. The stock has traded in a range of $33.06 to $60.55 in the past 52 weeks.

Wednesday, Dycom Industries reported fourth-quarter net loss that narrowed to $11.2 million or $0.35 per share, from $12.1 million or $0.38 per share in the year-ago period. Adjusted loss was $0.23 per share, compared to adjusted earnings of $0.10 per share in the previous-year quarter.

On average, analysts polled by Thomson Reuters expected loss of $0.03 per share. Analysts' estimates typically exclude special items.

Contract revenues for the quarter declined to $737.6 million from $748.6 million in the year-ago period.

For the first quarter, Dycom Industries anticipates earnings to range from a loss of $0.09 to a profit of $0.08, and total contract revenues of $730 million to $780 million.

The Street expects the company to report earnings of $0.36 per share on revenue of $802.51 million.