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 EPS guidance of 4.400-4.500 for the period, compared to the consensus EPS 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 Up 0.8 %

Shares of TDY stock traded up $2.86 during trading hours on Friday, reaching $379.84. 202,152 shares of the company’s stock were exchanged, compared to its average volume of 232,020. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The stock has a market cap of $18.00 billion, a PE ratio of 20.39, a PEG ratio of 2.48 and a beta of 1.02. The stock’s fifty day moving average price is $417.57 and its two-hundred day moving average price is $414.64.

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 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 analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.53 EPS. Research analysts predict that Teledyne Technologies will post 19.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TDY. Bank of America lowered Teledyne Technologies from a buy rating to a neutral rating and reduced their target price for the stock from $490.00 to $400.00 in a research note on Friday. TD Cowen decreased their target price on Teledyne Technologies from $475.00 to $450.00 and set a buy rating for the company in a report on Thursday. Needham & Company LLC cut 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. Finally, StockNews.com lowered shares of Teledyne Technologies from a buy rating to a hold rating in a research 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 data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $474.86.

Insider Transactions at Teledyne Technologies

In other news, 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 transaction of $220,241.00. Following the sale, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction on Friday, March 8th. The shares were 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 directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction dated Tuesday, January 30th. The shares were 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 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 6,711 shares of company stock worth $2,890,621 over the last quarter. 2.14% 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.