Q3 2024 Earnings Estimate for Teledyne Technologies Incorporated (NYSE:TDY) Issued By Zacks Research

Teledyne Technologies Incorporated (NYSE:TDY) – Zacks Research lowered their Q3 2024 earnings estimates for Teledyne Technologies in a report issued on Wednesday, August 14th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings of $4.96 per share for the quarter, down from their previous estimate of $5.06. The consensus estimate for Teledyne Technologies’ current full-year earnings is $19.37 per share. Zacks Research also issued estimates for Teledyne Technologies’ Q4 2024 earnings at $5.27 EPS and FY2026 earnings at $23.06 EPS.

Several other analysts have also recently issued reports on the stock. TD Cowen decreased their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Needham & Company LLC boosted their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Finally, 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 on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $471.17.

Teledyne Technologies Stock Up 0.8 %

Shares of TDY opened at $416.58 on Friday. The business’s 50 day simple moving average is $398.51 and its 200-day simple moving average is $406.80. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $448.19. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.87 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.67 EPS.

Hedge Funds Weigh In On Teledyne Technologies

A number of large investors have recently bought and sold shares of TDY. Vanguard Group Inc. lifted its position in shares of Teledyne Technologies by 0.3% during the first 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. Janus Henderson Group PLC boosted its position in Teledyne Technologies by 3.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock valued at $676,041,000 after buying an additional 48,397 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after buying an additional 186,849 shares during the period. King Luther Capital Management Corp grew its stake in Teledyne Technologies by 1.6% in the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock worth $273,586,000 after acquiring an additional 9,843 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $243,111,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.