Teledyne Technologies (NYSE:TDY) Updates Q2 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.400-4.500 for the period, compared to the consensus earnings per share estimate of 5.000. The company issued revenue guidance of -. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Analysts Set New Price Targets

A number of brokerages have commented on TDY. TD Cowen decreased their price target on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a research note on Thursday. Needham & Company LLC lowered their price target on Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a report on Thursday. Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and lowered their target price for the company from $490.00 to $400.00 in a report on Friday. Finally, StockNews.com downgraded Teledyne Technologies from a buy rating to a hold rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $474.86.

Teledyne Technologies Stock Down 0.6 %

Shares of TDY opened at $374.64 on Friday. The business’s 50 day moving average is $416.42 and its 200 day moving average is $414.39. The company has a market capitalization of $17.75 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $448.19. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The business 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 15.81% and a return on equity of 10.54%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $4.53 EPS. Research analysts expect that Teledyne Technologies will post 19.35 earnings per share for the current fiscal year.

Insider Activity 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 owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the firm’s 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 completion of the transaction, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 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. In the last 90 days, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is owned by company 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.