Teledyne Technologies (NYSE:TDY) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TDY. Needham & Company LLC lowered their price target on Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research report on Thursday. TD Cowen lowered their price target on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a research report on Thursday. StockNews.com downgraded Teledyne Technologies from a buy rating to a hold rating in a research report on Thursday. Finally, Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and decreased their price objective for the company from $490.00 to $400.00 in a report on Friday. 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 company currently has an average rating of Moderate Buy and a consensus target price of $474.86.

Teledyne Technologies Stock Performance

NYSE TDY traded up $2.68 during trading hours on Friday, reaching $379.66. The stock had a trading volume of 163,110 shares, compared to its average volume of 231,599. The stock has a fifty day moving average of $417.57 and a 200 day moving average of $414.64. The stock has a market cap of $17.99 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81.

Teledyne Technologies (NYSE:TDY) last announced 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). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm posted $4.53 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Teledyne Technologies will post 19.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction on Friday, February 2nd. The stock was 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 in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 transaction of $1,731,640.00. Following the completion of the sale, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,711 shares of company stock worth $2,890,621. 2.14% of the stock is owned by corporate 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.