Teledyne Technologies (NYSE:TDY - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.400-4.500 for the period, compared to the consensus EPS 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 %
Teledyne Technologies stock traded down $44.56 during midday trading on Wednesday, hitting $362.50. 1,097,023 shares of the stock were exchanged, compared to its average volume of 226,868. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The firm has a market cap of $17.18 billion, a P/E ratio of 19.59, 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. The company has a 50 day moving average price of $418.66 and a two-hundred day moving average price of $414.90.
Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion for 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 business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $4.53 EPS. On average, sell-side analysts predict that Teledyne Technologies will post 20.56 earnings per share for the current fiscal year.
Analysts Set New Price Targets
TDY has been the subject of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $522.00 to $510.00 and set a buy rating for the company in a report on Wednesday, January 24th. StockNews.com raised shares of Teledyne Technologies from a hold rating to a buy rating in a research note on Saturday, February 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $515.67.
Read Our Latest Research Report on TDY
Insiders Place Their Bets
In related news, Director Simon M. Lorne sold 2,200 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were 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 approximately $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Simon M. Lorne sold 2,200 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were 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 approximately $28,711,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business's stock in a transaction that occurred on 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 owns 18,735 shares in the company, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock worth $2,890,621. 1.88% of the stock is owned by corporate insiders.
About Teledyne Technologies
(
Get Free Report)
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.
See Also
Before you consider Teledyne Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teledyne Technologies wasn't on the list.
While Teledyne Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
