Teledyne Technologies (NYSE:TDY) Updates Q2 Earnings Guidance

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

Teledyne Technologies Stock Down 10.9 %

Shares of TDY stock traded down $44.56 during trading hours on Wednesday, reaching $362.50. 1,096,968 shares of the company’s stock were exchanged, compared to its average volume of 223,575. The stock’s 50 day moving average is $419.96 and its 200-day moving average is $415.27. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.60 and a beta of 1.02. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week 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 (EPS) 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.53 earnings per share. Analysts predict that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TDY shares. StockNews.com raised shares of Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Needham & Company LLC dropped their price objective on shares of 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 MarketBeat.com, Teledyne Technologies has a consensus rating of Buy and an average price target of $515.67.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 transaction of $220,241.00. Following the sale, 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 filing with the SEC, which is available at this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. 1.88% of the stock is owned by 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.