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 Trading Up 4.4 %

Shares of TDY stock traded up $19.35 during mid-day trading on Wednesday, hitting $462.84. The company’s stock had a trading volume of 198,653 shares, compared to its average volume of 239,104. 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’s fifty day simple moving average is $432.52 and its 200-day simple moving average is $409.32. The company has a market cap of $21.93 billion, a PE ratio of 23.99, a P/E/G ratio of 3.16 and a beta of 1.01. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $464.14.

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

Wall Street Analysts Forecast Growth

TDY has been the subject of several research reports. Needham & Company LLC raised their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Teledyne Technologies has an average 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.