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

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

Teledyne Technologies Stock Up 0.7 %

Teledyne Technologies stock traded up $2.66 during midday trading on Friday, reaching $379.64. The stock had a trading volume of 191,488 shares, compared to its average volume of 231,911. The firm’s fifty day simple moving average is $417.57 and its 200-day simple moving average is $414.64. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The stock has a market capitalization of $17.99 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The company 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 10.54% and a net margin of 15.81%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $4.53 EPS. As a group, analysts expect that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was 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 $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s 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 transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value 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. Insiders have sold 6,711 shares of company stock valued at $2,890,621 over the last ninety days. 2.14% of the stock is owned by corporate 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.