Teledyne Technologies (NYSE:TDY) Updates Q3 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.900-5.000 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 Stock Performance

TDY traded up $14.83 during trading hours on Wednesday, hitting $417.00. 729,460 shares of the stock were exchanged, compared to its average volume of 251,099. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.80 and a beta of 1.00. The stock has a 50-day simple moving average of $393.36 and a 200-day simple moving average of $409.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the company earned $4.67 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Teledyne Technologies will post 19.34 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Cowen lowered their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a report on Thursday, April 25th. StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a research note on Thursday, July 18th. Needham & Company LLC cut their target price on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a research note on Thursday, April 25th. Vertical Research started coverage on shares of Teledyne Technologies in a report on Tuesday. They set a buy rating and a $470.00 price target for the company. Finally, Bank of America cut shares of Teledyne Technologies from a buy rating to a neutral rating and dropped their price objective for the stock from $490.00 to $400.00 in a report on Friday, April 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $470.71.

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.