Wall Street analysts forecast that Teledyne Technologies (TDY) will report quarterly earnings of $4.92 per share in its upcoming release, pointing to a year-over-year increase of 8.1%. It is anticipated that revenues will amount to $1.42 billion, exhibiting an increase of 5.5% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 1.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Teledyne metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Sales- Instrumentation' to come in at $343.77 million. The estimate indicates a year-over-year change of +4.1%.
The combined assessment of analysts suggests that 'Net Sales- Engineered Systems' will likely reach $101.04 million. The estimate points to a change of +8.4% from the year-ago quarter.
According to the collective judgment of analysts, 'Net Sales- Digital Imaging' should come in at $753.02 million. The estimate suggests a change of +1.7% year over year.
The average prediction of analysts places 'Net Sales- Aerospace and Defense Electronics' at $224.37 million. The estimate suggests a change of +20.8% year over year.
Analysts' assessment points toward 'Sales- Instrumentation- Test and Measurement Instrumentation' reaching $75.52 million. The estimate indicates a year-over-year change of +5.6%.
The consensus among analysts is that 'Sales- Instrumentation- Environmental Instrumentation' will reach $115.23 million. The estimate suggests a change of +3.7% year over year.
The consensus estimate for 'Sales- Instrumentation- Marine Instrumentation' stands at $156.21 million. The estimate indicates a year-over-year change of +5.7%.
Analysts predict that the 'Operating Income- Instrumentation' will reach $90.01 million. Compared to the present estimate, the company reported $86 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Operating Income- Digital Imaging' of $116.24 million. Compared to the present estimate, the company reported $113.80 million in the same quarter last year.
Analysts forecast 'Operating Income- Aerospace and Defense Electronics' to reach $54.84 million. The estimate compares to the year-ago value of $51.90 million.
It is projected by analysts that the 'Non-GAAP Operating Income- Digital Imaging' will reach $168.76 million. The estimate compares to the year-ago value of $161.80 million.
Based on the collective assessment of analysts, 'Non-GAAP Operating Income- Instrumentation' should arrive at $94.34 million. The estimate is in contrast to the year-ago figure of $89.40 million.
View all Key Company Metrics for Teledyne here>>>
Shares of Teledyne have demonstrated returns of -7.9% over the past month compared to the Zacks S&P 500 composite's -5.6% change. With a Zacks Rank #3 (Hold), TDY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Teledyne Technologies Incorporated (TDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
