Teledyne Micropac Readies for Q4 Earnings Amid Mixed Performance
Teledyne Micropac, Inc. (TDY) has a market capitalization of $21.3 billion and operates in several industries, including aerospace, defense, environmental monitoring, medical imaging, and oceanographic research. Known for its strong portfolio in digital imaging, instrumentation, aerospace, defense electronics, and engineered systems, Teledyne aims to provide advanced solutions in electronics and sensors. The company is set to release its fiscal Q4 earnings results on Wednesday, January 22.
Anticipating Q4 Earnings Results
Analysts predict that the company will report a profit of $5.23 per share, a decrease of 3.9% from $5.44 per share in the same quarter last year. Teledyne has managed to outperform Wall Street’s earnings estimates in three of the last four quarters, with one miss. In Q3, the firm surpassed the consensus EPS estimate by 2.6%.
Outlook for Fiscal 2024
Looking ahead to fiscal 2024, analysts expect an EPS of $19.45, slightly down from $19.69 in fiscal 2023. However, there is optimism for fiscal 2025, with an expected year-over-year growth of 11.2%, bringing EPS to $21.62.
Stock Performance and Market Trends
Shares of TDY have increased by 5.1% over the past 52 weeks, falling short compared to the S&P 500 Index’s ($SPX) 25.8% increase and the Technology Select Sector SPDR Fund’s (XLK) 26.4% growth during the same timeframe.
Positive Response to Q3 Earnings
On October 23, TDY shares climbed 6% following a Q3 earnings report that exceeded expectations. The company reported adjusted earnings of $5.10 per share with total sales of $1.4 billion, showing strong growth in segments like Instrumentation, Aerospace and Defense Electronics, and Engineered Systems. Additionally, Teledyne raised its full-year 2024 adjusted earnings guidance to a range of $19.35 to $19.45 per share, which bolstered investor confidence.
Analysts Have a Bullish Outlook
Analysts maintain a bullish view on Teledyne Micropac’s stock, with an overall “Strong Buy” rating. Of the nine analysts covering the stock, seven recommend “Strong Buy,” one suggests “Moderate Buy,” and one indicates “Hold.” The average price target for TDY sits at $540.78, representing a potential upside of 17.1% from current levels.
On the date of publication, Sohini Mondal did not hold (either directly or indirectly) any positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. To view more information, please refer to the Barchart Disclosure Policy here. More news from Barchart
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
