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 (EPS) guidance of $19.35-$19.45 for the period, compared to the consensus estimate of $19.43. Teledyne Technologies also updated its FY 2024 guidance to 19.350-19.450 EPS.

Analysts Set New Price Targets

TDY has been the subject of several research analyst reports. Vertical Research assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Needham & Company LLC lifted their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $450.50.

Teledyne Technologies Stock Down 0.8 %

Shares of NYSE:TDY opened at $443.49 on Wednesday. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $458.15. The company has a market capitalization of $21.01 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 3.16 and a beta of 1.01. 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 fifty day moving average of $432.52 and a 200-day moving average of $409.32.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $4.67 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities analysts predict that Teledyne Technologies will post 19.43 EPS 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.