Teledyne Technologies (NYSE:TDY) Releases FY24 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $19.25-19.45 for the period, compared to the consensus estimate of $20.56. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TDY. StockNews.com lowered shares of Teledyne Technologies from a buy rating to a hold rating in a report on Thursday. Bank of America lowered shares of Teledyne Technologies from a buy rating to a neutral rating and dropped their price objective for the company from $490.00 to $400.00 in a report on Friday. TD Cowen lowered their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a report on Thursday. Finally, Needham & Company LLC lowered their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Teledyne Technologies has an average rating of Moderate Buy and an average price target of $474.86.

Teledyne Technologies Price Performance

NYSE:TDY opened at $374.64 on Friday. Teledyne Technologies has a one year low of $355.41 and a one year 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 firm has a market cap of $17.75 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.58 and a beta of 1.02. The firm’s fifty day moving average is $416.42 and its two-hundred day moving average is $414.39.

Teledyne Technologies (NYSE:TDY) last posted 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). The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. Teledyne Technologies’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.53 earnings per share. Research analysts expect that Teledyne Technologies will post 19.35 EPS for the current year.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’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 transaction, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’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 transaction, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the company’s 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 transaction, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,711 shares of company stock worth $2,890,621. Company insiders own 2.14% of the company’s stock.

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.