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

Teledyne Technologies (NYSE:TDY) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TDY shares. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a research note on Saturday, February 10th. Needham & Company LLC cut their target price 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $515.67.

Teledyne Technologies Stock Down 10.9 %

Shares of NYSE TDY traded down $44.56 during midday trading on Wednesday, reaching $362.50. The company’s stock had a trading volume of 1,097,023 shares, compared to its average volume of 226,868. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The stock has a 50 day simple moving average of $419.96 and a 200-day simple moving average of $415.27. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.60 and a beta of 1.02. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29.

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 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 company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned $4.53 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts predict that Teledyne Technologies will post 20.56 earnings per share for the current year.

Insider Activity at Teledyne Technologies

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

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.