Teledyne Technologies (NYSE:TDY) Issues Q2 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.40-4.50 for the period, compared to the consensus earnings per share estimate of $5.00. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Analyst Ratings Changes

Several equities research analysts have commented on TDY shares. Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a research note on Thursday. StockNews.com upgraded shares of Teledyne Technologies from a hold rating to a buy rating in a research note on Saturday, February 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $506.50.

Teledyne Technologies Price Performance

NYSE TDY traded up $5.89 on Thursday, reaching $368.39. 130,887 shares of the stock traded hands, compared to its average volume of 225,398. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.62 and a beta of 1.02. The firm’s fifty day simple moving average is $418.66 and its 200 day simple moving average is $414.90. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm earned $4.53 earnings per share. Teledyne Technologies’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts predict that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the transaction, the director now directly owns 56,492 shares in the company, valued at $24,348,052. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,711 shares of company stock worth $2,890,621. Insiders own 2.14% of the company’s stock.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.