Teledyne Technologies (NYSE:TDY) Updates 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 guidance of $4.40-4.50 for the period, compared to the consensus earnings per share estimate of $5.00. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $407.04 on Wednesday. The business’s fifty day simple moving average is $419.96 and its 200-day simple moving average is $415.27. The company has a market cap of $19.29 billion, a PE ratio of 22.00, a PEG ratio of 2.60 and a beta of 1.02. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29. Teledyne Technologies has a 12-month low of $364.98 and a 12-month high of $448.19.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The business 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.53 earnings per share. Analysts expect that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the 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 sale, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the 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 sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. Company insiders own 1.88% of the company’s stock.

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.