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

Teledyne Technologies (NYSE:TDY) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 19.250-19.450 for the period, compared to the consensus earnings per share estimate of 19.380. The company issued revenue guidance of -. Teledyne Technologies also updated its FY24 guidance to $19.25-$19.45 EPS.

Teledyne Technologies Stock Performance

NYSE TDY traded up $1.52 on Thursday, hitting $418.52. 303,000 shares of the stock traded hands, compared to its average volume of 251,464. The business’s fifty day moving average is $393.62 and its two-hundred day moving average is $409.25. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $448.19. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.67 earnings per share. As a group, equities analysts anticipate that Teledyne Technologies will post 19.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on TDY. Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday. They set a buy rating and a $470.00 target price on the stock. Needham & Company LLC increased their target price on Teledyne Technologies from $455.00 to $482.00 and gave the stock a buy rating in a research report on Thursday. TD Cowen lowered their price objective on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Bank of America downgraded Teledyne Technologies from a buy rating to a neutral rating and lowered their price objective for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Finally, StockNews.com upgraded Teledyne Technologies from a hold rating to a buy rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of Moderate Buy and a consensus target price of $474.57.

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.