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 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 Upgrades and Downgrades

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

Teledyne Technologies Stock Performance

TDY traded up $6.34 on Thursday, hitting $368.84. The company had a trading volume of 154,891 shares, compared to its average volume of 225,751. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company’s fifty day moving average price is $418.66 and its 200 day moving average price 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.

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 the consensus estimate of $4.63 by ($0.08). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.53 earnings per share. Equities analysts predict that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction 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 transaction, the director now owns 18,735 shares in the company, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock worth $2,890,621 over 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.