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

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

Teledyne Technologies Stock Down 0.6 %

Teledyne Technologies stock opened at $374.64 on Friday. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17. The stock has a market cap of $17.75 billion, a PE ratio of 20.26, a P/E/G ratio of 2.58 and a beta of 1.02. The stock’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 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business earned $4.53 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies 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 sale, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies 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 sale, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 completion of the sale, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock valued at $2,890,621 over the last quarter. 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.