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

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

Teledyne Technologies Stock Performance

TDY stock traded down $44.56 during midday trading on Wednesday, reaching $362.50. The stock had a trading volume of 1,097,023 shares, compared to its average volume of 226,868. The firm has a fifty day simple moving average of $419.96 and a two-hundred day simple moving average of $415.27. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. The stock has a market cap of $17.18 billion, a PE ratio of 19.71, a P/E/G ratio of 2.60 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last released its 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). Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $4.53 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Teledyne Technologies will post 20.56 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s 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 completion of the sale, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 over the last quarter. 1.88% of the stock is currently owned by insiders.

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.