Teledyne Technologies (NYSE:TDY) Updates FY 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 19.250-19.450 for the period, compared to the consensus EPS estimate of 20.560. The company issued revenue guidance of -. Teledyne Technologies also updated its FY24 guidance to $19.25-19.45 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TDY. Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and reduced their price target for the stock from $490.00 to $400.00 in a research report on Friday. StockNews.com downgraded Teledyne Technologies from a buy rating to a hold rating in a research report on Thursday. Needham & Company LLC reduced their price target on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a research report on Thursday. Finally, TD Cowen reduced their price target on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $474.86.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $2.66 during mid-day trading on Friday, hitting $379.64. 191,488 shares of the stock were exchanged, compared to its average volume of 231,911. The firm has a fifty day moving average of $417.57 and a 200 day moving average of $414.64. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a market cap of $17.99 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.53 earnings per share. Research analysts anticipate that Teledyne Technologies will post 19.35 earnings per share for the current year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the sale, the director now owns 18,735 shares in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the sale, the director now owns 18,735 shares in the company, valued at approximately $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was 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 of the company’s stock, valued at approximately $24,348,052. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,711 shares of company stock worth $2,890,621. Insiders own 2.14% of the company’s stock.

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.