Teledyne Technologies (NYSE:TDY) Updates Q2 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $4.40-4.50 for the period, compared to the consensus earnings per share estimate of $5.00. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Analyst Upgrades and Downgrades

TDY has been the subject of several recent research reports. Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research report on Thursday. StockNews.com lowered shares of Teledyne Technologies from a buy rating to a hold rating in a research report on Thursday. TD Cowen dropped their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a research report on Thursday. Finally, Bank of America lowered shares of Teledyne Technologies from a buy rating to a neutral rating and dropped their price objective for the stock from $490.00 to $400.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $474.86.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $2.68 during mid-day trading on Friday, hitting $379.66. 163,110 shares of the stock were exchanged, compared to its average volume of 231,599. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81. The stock’s fifty day simple moving average is $417.57 and its two-hundred day simple moving average is $414.64. The company has a market cap of $17.99 billion, a P/E ratio of 20.39, a PEG ratio of 2.48 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last released its quarterly 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 net margin of 15.81% and a return on equity of 10.54%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the company earned $4.53 earnings per share. Teledyne Technologies’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, 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 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 SEC, which is available through this hyperlink. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction 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 sale, 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 at the SEC website. Also, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction on 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 in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% 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.