Teledyne Technologies (NYSE:TDY) Issues FY 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 19.250-19.450 for the period, compared to the consensus EPS estimate of 20.560. The company issued revenue guidance of -. Teledyne Technologies also updated its FY24 guidance to $19.25-19.45 EPS.

Analyst Ratings Changes

Several research firms have recently issued reports on TDY. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a report on Thursday. StockNews.com upgraded shares of Teledyne Technologies from a hold rating to a buy rating in a research note on Saturday, February 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $506.50.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $7.50 during mid-day trading on Thursday, hitting $370.00. 234,126 shares of the company’s stock traded hands, compared to its average volume of 226,741. The company’s 50-day moving average is $418.66 and its two-hundred day moving average is $414.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. The company has a market capitalization of $17.53 billion, a P/E ratio of 19.92, a PEG ratio of 2.62 and a beta of 1.02. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19.

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

Insider Buying and Selling

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the sale, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The disclosure for this sale can be found here. Insiders have sold 6,711 shares of company stock valued at $2,890,621 in the last ninety days. 2.14% of the stock is owned by company insiders.

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.