Teledyne Technologies (NYSE:TDY) Releases Q2 2024 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.400-4.500 for the period, compared to the consensus earnings per share 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 Down 10.9 %

NYSE:TDY traded down $44.56 during mid-day trading on Wednesday, hitting $362.50. 1,097,023 shares of the company’s stock were exchanged, compared to its average volume of 226,868. The business has a fifty day moving average price of $419.96 and a 200 day moving average price of $415.27. Teledyne Technologies has a one year low of $355.41 and a one year high of $448.19. The company has a market cap of $17.18 billion, a PE ratio of 19.71, a P/E/G ratio of 2.60 and a beta of 1.02. 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 posted 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). The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.53 EPS. Equities analysts predict that Teledyne Technologies will post 20.56 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on 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 sale, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the sale, the director now directly owns 18,735 shares in the company, valued at approximately $8,110,568.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Simon M. Lorne sold 2,200 shares of the business’s 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 sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The disclosure for this sale can be found here. Insiders sold a total of 6,711 shares of company stock worth $2,890,621 over the last 90 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.