Teledyne Technologies (NYSE:TDY) Releases FY 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 19.250-19.450 for the period, compared to the consensus estimate of 20.560. The company issued revenue guidance of -. Teledyne Technologies also updated its FY24 guidance to $19.25-19.45 EPS.

Wall Street Analyst Weigh In

Several research firms recently commented on TDY. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a research note 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 research note on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $506.50.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded up $7.50 during mid-day trading on Thursday, hitting $370.00. The company had a trading volume of 234,126 shares, compared to its average volume of 226,741. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.62 and a beta of 1.02. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. 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 stock’s 50-day moving average price is $418.66 and its 200-day moving average price is $414.90.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $4.53 earnings per share. Teledyne Technologies’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies will post 20.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s 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 completion of the transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies 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 sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’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 completion of the sale, 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 a total of 6,711 shares of company stock worth $2,890,621 over the last ninety days. 2.14% of the stock is owned by corporate insiders.

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.