Teledyne Technologies (NYSE:TDY) Issues FY 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 19.250-19.450 for the period, compared to the consensus EPS estimate of 20.560. The company issued revenue guidance of -. Teledyne Technologies also updated its FY24 guidance to $19.25-19.45 EPS.

Teledyne Technologies Trading Down 10.9 %

TDY traded down $44.56 during midday trading on Wednesday, reaching $362.50. 1,097,023 shares of the company’s stock traded hands, compared to its average volume of 226,868. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.60 and a beta of 1.02. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $448.19. The firm has a fifty day moving average of $419.96 and a two-hundred day moving average of $415.27. 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 released its quarterly 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). Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $4.53 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts anticipate that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TDY. 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. StockNews.com upgraded shares of Teledyne Technologies from a hold rating to a buy rating in a report on Saturday, February 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $515.67.

Insider Buying and Selling

In other news, Director Michael T. Smith sold 511 shares of the stock in a transaction that occurred on 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 owns 56,492 shares in the company, valued at $24,348,052. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction dated Tuesday, January 30th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the sale, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock worth $2,890,621 in the last quarter. Corporate insiders own 1.88% of the company’s stock.

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.