Teledyne Technologies (NYSE:TDY) Issues FY24 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its FY24 earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Needham & Company LLC reduced their price target 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 lowered Teledyne Technologies from a buy rating to a hold rating in a research report on Thursday. TD Cowen reduced their price target 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 lowered Teledyne Technologies from a buy rating to a neutral rating and reduced their price target for the stock from $490.00 to $400.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $474.86.

Teledyne Technologies Price Performance

TDY stock opened at $374.64 on Friday. 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 has a 52-week low of $355.41 and a 52-week high of $448.19. The stock’s 50 day moving average is $416.42 and its two-hundred day moving average is $414.39. The company has a market capitalization of $17.75 billion, a PE ratio of 20.26, a P/E/G ratio of 2.58 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly 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 net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $4.53 earnings per share. Teledyne Technologies’s revenue was down 2.4% compared to the same quarter last year. Analysts predict that Teledyne Technologies will post 19.35 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock worth $2,890,621 in the last 90 days. 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.