Teledyne Technologies (NYSE:TDY) Updates Q2 Earnings Guidance

Teledyne Technologies (NYSE:TDY) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $4.40-4.50 for the period, compared to the consensus EPS estimate of $5.00. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.

Analyst Upgrades and Downgrades

TDY has been the topic of a number of recent analyst reports. TD Cowen dropped their price objective on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a report on Thursday. StockNews.com cut shares of Teledyne Technologies from a buy rating to a hold rating in a research note on Thursday. Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a buy rating for the company in a research note on Thursday. Finally, Bank of America lowered shares of Teledyne Technologies from a buy rating to a neutral rating and lowered their target price for the stock from $490.00 to $400.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of Moderate Buy and an average price target of $474.86.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $374.64 on Friday. The firm has a market capitalization of $17.75 billion, a PE ratio of 20.26, a P/E/G ratio of 2.58 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’s 50-day simple moving average is $416.42 and its 200 day simple moving average is $414.39. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. Teledyne Technologies’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.53 earnings per share. On average, equities research analysts predict that Teledyne Technologies will post 19.35 EPS for the current fiscal year.

Insider Activity at Teledyne Technologies

In related 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 value 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the firm’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 of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction dated 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 in the company, valued at $24,348,052. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. Insiders own 2.14% 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.