What is Zacks Research's Estimate for TDY FY2024 Earnings?

Teledyne Technologies Incorporated (NYSE:TDY - Free Report) - Zacks Research boosted their FY2024 earnings estimates for shares of Teledyne Technologies in a report issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings per share of $19.45 for the year, up from their previous estimate of $19.39. The consensus estimate for Teledyne Technologies' current full-year earnings is $19.44 per share. Zacks Research also issued estimates for Teledyne Technologies' Q1 2025 earnings at $5.11 EPS, Q3 2025 earnings at $5.45 EPS, Q2 2026 earnings at $5.54 EPS and Q3 2026 earnings at $5.79 EPS.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $5.05 earnings per share.

A number of other brokerages also recently weighed in on TDY. TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, October 24th. 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. Bank of America upgraded shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC lifted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a "buy" rating in a report on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $517.50.

Teledyne Technologies Price Performance

Shares of TDY traded down $6.41 during midday trading on Friday, reaching $470.15. The stock had a trading volume of 292,482 shares, compared to its average volume of 240,739. The firm's 50 day moving average price is $449.30 and its 200-day moving average price is $417.90. The company has a market capitalization of $21.91 billion, a P/E ratio of 23.77, a P/E/G ratio of 3.38 and a beta of 1.01. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $492.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares in the company, valued at $83,724,268.66. This represents a 21.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.14% of the company's stock.

Institutional Investors Weigh In On Teledyne Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Teledyne Technologies by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company's stock worth $2,375,905,000 after purchasing an additional 16,189 shares during the last quarter. State Street Corp raised its position in shares of Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock valued at $893,219,000 after buying an additional 37,884 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Teledyne Technologies by 0.6% in the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock valued at $748,167,000 after buying an additional 9,368 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company's stock worth $480,355,000 after buying an additional 186,849 shares in the last quarter. Finally, Earnest Partners LLC increased its stake in Teledyne Technologies by 3.5% during the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company's stock valued at $154,665,000 after acquiring an additional 13,576 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

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.