Teledyne Technologies (NYSE:TDY) Releases Q2 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.400-4.500 for the period, compared to the consensus EPS estimate of 5.000. The company issued revenue guidance of -. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Analyst Ratings Changes

Several brokerages recently weighed in on TDY. Bank of America cut shares of Teledyne Technologies from a buy rating to a neutral rating and reduced their price objective for the stock from $490.00 to $400.00 in a research note on Friday. TD Cowen decreased their price target 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 cut their price objective on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a research note on Thursday. Finally, StockNews.com cut Teledyne Technologies from a buy rating to a hold rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $474.86.

Teledyne Technologies Stock Up 0.8 %

TDY stock traded up $2.86 during mid-day trading on Friday, reaching $379.84. 202,152 shares of the company traded hands, compared to its average volume of 232,020. The firm’s 50 day moving average price is $417.57 and its 200 day moving average price is $414.64. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.48 and a beta of 1.02. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released 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 firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted $4.53 earnings per share. As a group, equities research analysts predict that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, February 2nd. The shares were 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 approximately $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction 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 transaction, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were 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 in the company, valued at $8,110,568.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,711 shares of company stock worth $2,890,621. Insiders own 2.14% of the company’s stock.

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.