Teledyne Technologies (NYSE:TDY) Releases Q2 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TDY shares. StockNews.com raised shares of Teledyne Technologies from a hold rating to a buy rating in a research report on Saturday, February 10th. Needham & Company LLC decreased their target price on Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $506.50.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $5.89 during trading hours on Thursday, reaching $368.39. The company had a trading volume of 130,887 shares, compared to its average volume of 225,398. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The firm has a market cap of $17.45 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The business has a fifty day simple moving average of $418.66 and a 200 day simple moving average of $414.90.

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

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction dated Friday, February 2nd. The stock was 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 of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 transaction, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock valued at $2,890,621 over the last 90 days. 2.14% of the stock is owned by insiders.

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.