Teledyne Technologies (NYSE:TDY) Updates FY24 Earnings Guidance

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

Teledyne Technologies Stock Performance

TDY stock traded down $44.56 on Wednesday, reaching $362.50. 1,097,034 shares of the company were exchanged, compared to its average volume of 226,868. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19. The stock’s fifty day moving average price is $419.96 and its 200 day moving average price is $415.27. The firm has a market capitalization of $17.18 billion, a PE ratio of 19.71, a PEG ratio of 2.60 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last released 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). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $4.53 earnings per share. On average, research analysts anticipate that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $522.00 to $510.00 and set a buy rating on the stock in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies presently has a consensus rating of Buy and an average price target of $515.67.

Insider Activity at Teledyne Technologies

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the 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 sale, the director now owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael T. Smith sold 511 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,711 shares of company stock worth $2,890,621. 1.88% of the stock is owned by 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.