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.

Teledyne Technologies Trading Down 10.9 %

TDY traded down $44.56 during midday trading on Wednesday, reaching $362.50. 1,096,968 shares of the company were exchanged, compared to its average volume of 223,575. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The stock has a market capitalization of $17.18 billion, a P/E ratio of 19.71, a PEG ratio of 2.60 and a beta of 1.02. The stock’s 50-day simple moving average is $419.96 and its 200 day simple moving average is $415.27.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) 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 firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted $4.53 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was 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 directly owns 18,735 shares in the company, valued at $8,110,568.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s 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 transaction, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,711 shares of company stock worth $2,890,621. 1.88% of the stock is currently 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.