Teledyne Technologies (NYSE:TDY) Updates 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 guidance of 19.250-19.450 for the period, compared to the consensus earnings per share 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 Trading Down 0.6 %

TDY opened at $374.64 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17. The company’s 50 day simple moving average is $416.42 and its two-hundred day simple moving average is $414.39. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its 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 10.54% and a net margin of 15.81%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates 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. Analysts expect that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were 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 of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The shares were 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 of the company’s stock, valued at approximately $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction dated Friday, February 2nd. The shares were 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 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 ninety days. Corporate insiders own 2.14% of the company’s stock.

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.