Zacks Research Comments on Teledyne Technologies Incorporated’s Q3 2024 Earnings (NYSE:TDY)

Teledyne Technologies Incorporated (NYSE:TDY) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for shares of Teledyne Technologies in a research note issued to investors 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 forecast 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.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $4.67 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis.

A number of other equities research analysts have also issued reports on TDY. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. TD Cowen decreased their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Bank of America downgraded shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $490.00 to $400.00 in a research note on Friday, April 26th. Vertical Research assumed coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. Finally, Needham & Company LLC lifted their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Teledyne Technologies has an average rating of “Moderate Buy” and an average price target of $471.17.

Teledyne Technologies Trading Up 0.8 %

TDY opened at $416.58 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. The company’s 50 day simple moving average is $398.51 and its two-hundred day simple moving average is $406.80. The firm 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. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19.

Hedge Funds Weigh In On Teledyne Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Tortoise Investment Management LLC raised its stake in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the period. Norden Group LLC increased its stake in Teledyne Technologies by 1.2% during the fourth quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock valued at $959,000 after purchasing an additional 25 shares during the last quarter. Weik Capital Management raised its stake in Teledyne Technologies by 0.5% during the fourth quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock worth $2,406,000 after acquiring an additional 25 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of Teledyne Technologies by 3.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after purchasing an additional 27 shares during the last quarter. Finally, Linscomb Wealth Inc. grew its stake in Teledyne Technologies by 4.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock worth $270,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors 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.