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Reasons to Add Teledyne Technologies Stock to Your Portfolio Now
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Teledyne Technologies, Inc. (TDY - Free Report) , with its strategic buyouts, rising earnings estimates and low debt, offers a great investment opportunity in the Zacks Aerospace sector.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
TDY’s Growth Projections & Surprise History
The Zacks Consensus Estimate for TDY’s 2024 earnings per share (EPS) has increased 0.3% to $19.40 per share in the past 60 days. The Zacks Consensus Estimate for Teledyne Technologies’ total revenues for the third quarter of 2024 stands at $1.42 billion, which indicates year-over-year growth of 1.6%.
Teledyne Technologies’ (three to five years) long-term earnings growth rate is 7.3%. The company delivered an average earnings surprise of 3.47% in the last four quarters.
Debt Position of TDY
Teledyne Technologies’ times interest earned ratio (TIE) at the end of the second quarter of 2024 was 16.3. The company’s strong TIE ratio indicates that it will be able to meet its interest payment obligations in the near term without any problems.
Currently, Teledyne Technologies’ total debt to capital is 23.09%, better than the industry’s average of 53.71%.
TDY’s Liquidity
The company’s current ratio at the end of the second quarter of 2024 was 1.98, higher than the industry’s average of 1.56. The ratio, being greater than one, indicates Teledyne Technologies’ ability to meet its future short-term liabilities without difficulties.
TDY’s Strategic Buyouts
Strategic acquisitions have been an integral aspect of Teledyne's expansion. Among its recent takeovers, worth mentioning is Adimec Holding B.V. and its affiliates, which the company acquired in June 2024. This buyout is anticipated to benefit Teledyne's Digital Imaging division.
The company previously bought Valeport Holdings 2019 Limited and its subsidiaries in April 2024. The purchase ought to strengthen Teledyne's portfolio of maritime instrumentation products. Such acquisitions should expand TDY’s product portfolio, bolstering its revenue generation prospects.
TDY Stock Price Movement
In the past three months, Teledyne shares have rallied 9.5% compared with the sector’s growth of 6.3%.
Leonardo DRS’ long-term earnings growth rate is 16.4%. The Zacks Consensus Estimate for DRS’ total revenues for 2024 stands at $3.15 billion, which indicates year-over-year growth of 11.4%.
Curtiss-Wright delivered an average earnings surprise of 11.52% in the last four quarters. The Zacks Consensus Estimate for its 2024 revenues is pegged at $3.05 billion, which implies a rise of 7% from the 2023 reported sales figure.
Leidos’ long-term earnings growth rate is 12.5%. The Zacks Consensus Estimate for LDOS’ 2024 sales is pegged at $16.27 billion, which calls for a rise of 5.4% from the 2023 reported sales figure.
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Reasons to Add Teledyne Technologies Stock to Your Portfolio Now
Teledyne Technologies, Inc. (TDY - Free Report) , with its strategic buyouts, rising earnings estimates and low debt, offers a great investment opportunity in the Zacks Aerospace sector.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
TDY’s Growth Projections & Surprise History
The Zacks Consensus Estimate for TDY’s 2024 earnings per share (EPS) has increased 0.3% to $19.40 per share in the past 60 days. The Zacks Consensus Estimate for Teledyne Technologies’ total revenues for the third quarter of 2024 stands at $1.42 billion, which indicates year-over-year growth of 1.6%.
Teledyne Technologies’ (three to five years) long-term earnings growth rate is 7.3%. The company delivered an average earnings surprise of 3.47% in the last four quarters.
Debt Position of TDY
Teledyne Technologies’ times interest earned ratio (TIE) at the end of the second quarter of 2024 was 16.3. The company’s strong TIE ratio indicates that it will be able to meet its interest payment obligations in the near term without any problems.
Currently, Teledyne Technologies’ total debt to capital is 23.09%, better than the industry’s average of 53.71%.
TDY’s Liquidity
The company’s current ratio at the end of the second quarter of 2024 was 1.98, higher than the industry’s average of 1.56. The ratio, being greater than one, indicates Teledyne Technologies’ ability to meet its future short-term liabilities without difficulties.
TDY’s Strategic Buyouts
Strategic acquisitions have been an integral aspect of Teledyne's expansion. Among its recent takeovers, worth mentioning is Adimec Holding B.V. and its affiliates, which the company acquired in June 2024. This buyout is anticipated to benefit Teledyne's Digital Imaging division.
The company previously bought Valeport Holdings 2019 Limited and its subsidiaries in April 2024. The purchase ought to strengthen Teledyne's portfolio of maritime instrumentation products. Such acquisitions should expand TDY’s product portfolio, bolstering its revenue generation prospects.
TDY Stock Price Movement
In the past three months, Teledyne shares have rallied 9.5% compared with the sector’s growth of 6.3%.
Image Source: Zacks Investment Research
Other Stocks to Consider
A few other top-ranked stocks from the same sector are Leonardo DRS, Inc. (DRS - Free Report) , Curtiss-Wright Corp. (CW - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Leonardo DRS’ long-term earnings growth rate is 16.4%. The Zacks Consensus Estimate for DRS’ total revenues for 2024 stands at $3.15 billion, which indicates year-over-year growth of 11.4%.
Curtiss-Wright delivered an average earnings surprise of 11.52% in the last four quarters. The Zacks Consensus Estimate for its 2024 revenues is pegged at $3.05 billion, which implies a rise of 7% from the 2023 reported sales figure.
Leidos’ long-term earnings growth rate is 12.5%. The Zacks Consensus Estimate for LDOS’ 2024 sales is pegged at $16.27 billion, which calls for a rise of 5.4% from the 2023 reported sales figure.