Teledyne Technologies (NYSE:TDY) Updates FY24 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $19.25-19.45 for the period, compared to the consensus earnings per share estimate of $20.56. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $6.34 during trading hours on Thursday, reaching $368.84. 154,891 shares of the company’s stock were exchanged, compared to its average volume of 225,751. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a 50-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. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19.

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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.53 EPS. Research analysts anticipate that Teledyne Technologies will post 20.56 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the 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 transaction, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 firm’s stock in a transaction 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 sale, the director now owns 67,288 shares of the company’s stock, valued at $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.