Teledyne Technologies (NYSE:TDY) Releases Q2 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.40-4.50 for the period, compared to the consensus estimate of $5.00. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $2.68 during midday trading on Friday, hitting $379.66. The stock had a trading volume of 163,110 shares, compared to its average volume of 231,599. The company has a market capitalization of $17.99 billion, a PE ratio of 20.39, a P/E/G ratio of 2.48 and a beta of 1.02. The stock has a 50 day simple moving average of $417.57 and a 200-day simple moving average of $414.64. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28.

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 the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.53 EPS. On average, sell-side analysts expect that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TDY has been the topic of a number of analyst reports. Needham & Company LLC reduced their price objective on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a research report on Thursday. StockNews.com downgraded Teledyne Technologies from a buy rating to a hold rating in a research report on Thursday. TD Cowen reduced their price objective on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a research report on Thursday. Finally, Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and reduced their price objective for the stock from $490.00 to $400.00 in a research report on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $474.86.

Insider Activity at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction 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 sale, the director now owns 18,735 shares in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $1,731,640.00. Following the sale, 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. In the last 90 days, insiders have sold 6,711 shares of company stock worth $2,890,621. 2.14% of the stock is currently owned by company 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.