Teledyne Technologies (NYSE:TDY) Updates FY24 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $19.35-$19.45 for the period, compared to the consensus earnings per share estimate of $19.43. Teledyne Technologies also updated its FY 2024 guidance to 19.350-19.450 EPS.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $19.35 during mid-day trading on Wednesday, hitting $462.84. 198,653 shares of the stock were exchanged, compared to its average volume of 239,104. Teledyne Technologies has a 12 month low of $355.41 and a 12 month high of $464.14. The company has a 50-day simple moving average of $432.52 and a 200 day simple moving average of $409.32. 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 company has a market capitalization of $21.93 billion, a P/E ratio of 23.99, a P/E/G ratio of 3.16 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.67 EPS. Sell-side analysts anticipate that Teledyne Technologies will post 19.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Vertical Research assumed coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. Finally, Needham & Company LLC lifted 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Teledyne Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $450.50.

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.