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

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TDY. StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Needham & Company LLC reduced their price target on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $506.50.

Teledyne Technologies Trading Up 2.1 %

Shares of NYSE TDY traded up $7.50 during trading on Thursday, hitting $370.00. 234,126 shares of the company were exchanged, compared to its average volume of 226,741. The firm has a market capitalization of $17.53 billion, a PE ratio of 19.92, a P/E/G ratio of 2.62 and a beta of 1.02. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $448.19. The company has a fifty day moving average price of $418.66 and a 200-day moving average price of $414.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.53 earnings per share. As a group, equities research analysts expect that Teledyne Technologies will post 20.56 EPS for the current year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the transaction, 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 accessible through this hyperlink. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the transaction, 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 accessible through this hyperlink. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following 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. In the last ninety days, insiders have sold 6,711 shares of company stock worth $2,890,621. Company 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.