Teledyne Technologies (NYSE:TDY) Updates Q2 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its second quarter earnings guidance on Wednesday morning. 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.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $407.04 on Wednesday. The firm has a market cap of $19.29 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 2.60 and a beta of 1.02. Teledyne Technologies has a one year low of $364.98 and a one year 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. The stock’s fifty day moving average price is $419.96 and its two-hundred day moving average price is $415.27.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $4.53 earnings per share. On average, equities analysts forecast that Teledyne Technologies will post 20.56 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on TDY. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Needham & Company LLC reduced their target price on Teledyne Technologies from $522.00 to $510.00 and set a buy rating on the stock in a report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $515.67.

Insider Buying and Selling

In related news, Director Michael T. Smith sold 511 shares of the company’s stock in a transaction 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 sale, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a filing with the SEC, which is available through this link. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction dated 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 directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction 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 the stock in a transaction dated 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 transaction, the director now owns 56,492 shares of the company’s stock, valued at $24,348,052. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock worth $2,890,621 in the last ninety days. 1.88% of the stock is 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.