Teledyne Technologies (NYSE:TDY) Issues FY24 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its FY24 earnings guidance on Wednesday morning. 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

Shares of NYSE TDY opened at $407.04 on Wednesday. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 22.00, a P/E/G 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 1-year low of $364.98 and a 1-year high of $448.19. The stock’s 50-day moving average is $419.96 and its 200 day moving average is $415.27.

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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. Teledyne Technologies’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $4.53 earnings per share. On average, sell-side analysts anticipate that Teledyne Technologies will post 20.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TDY has been the topic of a number of recent analyst reports. StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a research report on Saturday, February 10th. Needham & Company LLC cut their price objective 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average target price of $515.67.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction that occurred on 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 directly owns 56,492 shares in the company, valued at $24,348,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies 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 sale, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares in the company, valued at $24,348,052. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock worth $2,890,621. 1.88% of the stock is currently owned by 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.