Teledyne Technologies (NYSE:TDY) Updates FY24 Earnings Guidance

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

Teledyne Technologies Stock Up 6.0 %

Shares of TDY traded up $26.45 during midday trading on Wednesday, hitting $469.94. The company had a trading volume of 501,848 shares, compared to its average volume of 240,583. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $470.84. The company's 50 day moving average price is $433.75 and its 200 day moving average price is $409.74. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 3.16 and a beta of 1.01.

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

Analyst Ratings Changes

Several research firms recently commented on TDY. Vertical Research began coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a "buy" rating and a $470.00 target price for the company. StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC increased their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.