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 (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 Performance

Teledyne Technologies stock opened at $378.62 on Wednesday. The stock’s 50-day moving average is $419.96 and its 200-day moving average is $415.27. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. Teledyne Technologies has a 12 month low of $364.98 and a 12 month high of $448.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17.

Teledyne Technologies (NYSE:TDY) last announced 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 15.72% and a return on equity of 10.81%. The business 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 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts anticipate that Teledyne Technologies will post 20.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on TDY. Needham & Company LLC cut their price objective on Teledyne Technologies from $522.00 to $510.00 and set a buy rating on the stock in a research report on Wednesday, January 24th. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a research report on Saturday, February 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $515.67.

Insider Activity

In other news, Director Michael T. Smith sold 511 shares of the 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 directly owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the company’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 sale, the director now owns 56,492 shares in the company, valued at $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 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. Insiders sold 6,711 shares of company stock worth $2,890,621 over the last ninety days. Corporate insiders own 1.88% 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.