Teledyne Technologies (NYSE:TDY) Releases 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.

Teledyne Technologies Stock Performance

NYSE TDY traded down $44.56 on Wednesday, reaching $362.50. 1,097,034 shares of the stock were exchanged, compared to its average volume of 226,868. The company’s 50-day simple moving average is $419.96 and its two-hundred day simple moving average is $415.27. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $17.18 billion, a PE ratio of 19.71, a PEG ratio of 2.60 and a beta of 1.02. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. Teledyne Technologies’s quarterly revenue 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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDY. StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a research report on Saturday, February 10th. Needham & Company LLC dropped their price target 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has an average rating of Buy and a consensus target price of $515.67.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies 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 transaction, the director now directly owns 18,735 shares of the company’s stock, valued at $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 Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies 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 $8,110,568.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 511 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The disclosure for this sale can be found here. Insiders have sold 6,711 shares of company stock worth $2,890,621 over the last quarter. Insiders own 1.88% of the company’s stock.

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.