Dycom Industries Rebounds Off Morning Low After Mixed Q4 Report

Dycom Industries, Inc. DY shares are trading lower by $7.00 at $75.30 in Wednesday's session.

Before the open, the company reported a mixed Q4 report with an EPS beat of 3 cents but came up $18 million shy on sales. The company drastically reduced Q1 sales guidance from estimates of $784 million to the $715 million-$745 million range. The reduction in EPS may not compare to current estimates of $1.43.

After a much lower open, Dycom immediately bottomed at $73.95 and began to rebound. That marks the lowest level for the stock since it bottomed on December 7 at $73.25. The rebound off that low has stopped well shy of the lower-end of Tuesday's range ($80.61) as $78.50 stands at the high for the session as of 11:15 a.m. EST.

Since making that high, Dycom has been drifting back towards low, but still is over $1.00 from making a new low for the session.