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.

Analyst Ratings Changes

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

Teledyne Technologies Stock Up 0.7 %

Shares of TDY stock traded up $2.68 during midday trading on Friday, reaching $379.66. 163,110 shares of the stock were exchanged, compared to its average volume of 231,599. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The company’s 50 day moving average is $417.57 and its two-hundred day moving average is $414.64. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The firm has a market cap of $17.99 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted $4.53 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts predict that Teledyne Technologies will post 19.35 EPS for the current year.

Insider Transactions at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’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 value of $1,731,640.00. Following the transaction, the director now directly 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 accessible through this hyperlink. 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 transaction, the director now directly 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 through this link. Also, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the transaction, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock valued at $2,890,621 in the last ninety days. 2.14% of the stock is currently 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.