Stock Story -
Digital imaging and instrumentation provider Teledyne (NYSE:TDY) will be reporting earnings tomorrow before the bell. Here's what to look for.
Teledyne missed analysts' revenue expectations by 3.1% last quarter, reporting revenues of $1.35 billion, down 2.4% year on year. It was a weak quarter for the company, with a miss of analysts' organic revenue estimates and underwhelming earnings guidance for the full year.
Is Teledyne a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Teledyne's revenue to decline 4.6% year on year to $1.36 billion, a reversal from the 5.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.50 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Teledyne has missed Wall Street's revenue estimates five times over the last two years.
Looking at Teledyne's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Badger Meter delivered year-on-year revenue growth of 23.2%, beating analysts' expectations by 6.5%, and Acuity Brands reported a revenue decline of 3.2%, falling short of estimates by 2.9%. Badger Meter traded up 3.7% following the results while Acuity Brands's stock price was unchanged.
Read the full analysis of Badger Meter's and Acuity Brands's results on StockStory.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 6.5% on average over the last month. Teledyne is up 1.7% during the same time and is heading into earnings with an average analyst price target of $465 (compared to the current share price of $397.74).
