Teledyne Technologies (NYSE:TDY) Issues FY24 Earnings Guidance

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

Teledyne Technologies Trading Up 0.7 %

Shares of TDY stock opened at $407.04 on Wednesday. Teledyne Technologies has a 1 year low of $364.98 and a 1 year high of $448.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. The stock’s 50 day simple moving average is $419.96 and its two-hundred day simple moving average is $415.27. The company has a market cap of $19.29 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 2.60 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 the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company posted $4.53 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts predict that Teledyne Technologies will post 20.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TDY shares. StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Needham & Company LLC cut their price target on Teledyne Technologies from $522.00 to $510.00 and set a buy rating on the stock in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $515.67.

Insider Activity

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’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 completion of the transaction, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the business’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 completion of the sale, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction that occurred on 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 owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock valued at $2,890,621 in the last quarter. 1.88% of the stock is currently owned by company 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.