Teledyne Technologies (NYSE:TDY) Updates Q3 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $4.90-$5.00 for the period, compared to the consensus EPS estimate of $5.01. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America cut Teledyne Technologies from a buy rating to a neutral rating and cut their target price for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Vertical Research assumed coverage on Teledyne Technologies in a report on Tuesday. They set a buy rating and a $470.00 price target on the stock. Needham & Company LLC raised their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a buy rating in a report on Thursday. Finally, TD Cowen lowered their price target on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies currently has an average rating of Moderate Buy and a consensus target price of $474.57.

Teledyne Technologies Price Performance

Shares of NYSE:TDY traded up $3.89 during trading on Thursday, hitting $420.89. 225,825 shares of the stock were exchanged, compared to its average volume of 250,921. The company has a fifty day moving average price of $393.62 and a two-hundred day moving average price of $409.25. The company has a market cap of $19.94 billion, a PE ratio of 22.75, a P/E/G ratio of 2.83 and a beta of 1.00. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28. 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 quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $4.67 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Teledyne Technologies will post 19.34 EPS for the current year.

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.