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With a market cap of $21.3 billion, Teledyne Micropac, Inc (TDY) is a diversified company serving various industries, including aerospace and defense, environmental monitoring,medical imaging, and oceanographic research. With a strong portfolio across digital imaging, instrumentation, aerospace, defense electronics, and engineered systems, Teledyne focuses on cutting-edge solutions in electronics, sensors, and advanced manufacturing. The company is expected to announce its fiscal Q4 earnings results on Wednesday, Jan. 22.
Ahead of this event, analysts expect the defense and aerospace industry supplier to report a profit of $5.23 per share, down 3.9% from $5.44 per share in the year-ago quarter. The company has surpassed Wall Street's earnings estimates in three of the last four quarters while missing on another occasion. In Q3, TDY exceeded the consensus EPS estimate by 2.6%.
For fiscal 2024, analysts expect the Thousand Oaks, California-based company to report an EPS of $19.45, down 1.2% from $19.69 in fiscal 2023. Nevertheless, EPS is expected to grow 11.2% year-over-year to $21.62 in fiscal 2025.
Shares of TDY have risen 5.1% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 25.8% surge and the Technology Select Sector SPDR Fund's (XLK) 26.4% return over the period.
Shares of TDY climbed 6% on Oct. 23 after the company’s Q3 earnings report, which exceeded Wall Street expectations. The company posted stronger-than-expected adjusted earnings of $5.10 per share and total sales of $1.4 billion, reflecting robust growth in key segments like Instrumentation, Aerospace and Defense Electronics, and Engineered Systems. Furthermore, the company raised its full-year 2024 adjusted earnings guidance to $19.35 per share - $19.45 per share, which reassured investors.
Analysts' consensus view on Teledyne Micropac’s stock is bullish, with a "Strong Buy" rating overall. Among nine analysts covering the stock, seven recommend "Strong Buy," one suggests "Moderate Buy," and one indicates “Hold.” The average analyst price target for TDY is $540.78, indicating a 17.1% potential upside from the current levels.
