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

Teledyne Technologies (NYSE:TDY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 19.350-19.450 for the period, compared to the consensus earnings per share estimate of 19.430. The company issued revenue guidance of -. Teledyne Technologies also updated its FY24 guidance to $19.35-$19.45 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TDY shares. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Vertical Research started coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $450.50.

Teledyne Technologies Stock Performance

NYSE TDY traded up $20.19 during trading on Wednesday, hitting $463.68. 172,049 shares of the company’s stock traded hands, compared to its average volume of 238,974. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 3.16 and a beta of 1.01. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $463.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The business has a 50 day moving average of $432.52 and a 200-day moving average of $409.32.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. Teledyne Technologies’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.67 EPS. As a group, equities research analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

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.