Teledyne Technologies (NYSE:TDY) Releases Q2 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.400-4.500 for the period, compared to the consensus estimate of 5.000. The company issued revenue guidance of -. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Teledyne Technologies Price Performance

NYSE:TDY traded up $7.50 during mid-day trading on Thursday, reaching $370.00. 234,126 shares of the company were exchanged, compared to its average volume of 226,741. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19. The company has a fifty day moving average of $418.66 and a 200 day moving average of $414.90. 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 stock has a market cap of $17.53 billion, a PE ratio of 19.92, a PEG ratio of 2.62 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company earned $4.53 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts anticipate that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC cut their target price on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Teledyne Technologies from a hold rating to a buy rating in a research report on Saturday, February 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $506.50.

Insider Activity

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total transaction of $220,241.00. Following the transaction, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Michael T. Smith sold 511 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total transaction of $220,241.00. Following the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the 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 sale, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Company Profile

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.