FY2023 EPS Estimates for Teledyne Technologies Incorporated (NYSE:TDY) Reduced by Zacks Research

Posted by Defense World Staff on Sep 23rd, 2023

Teledyne Technologies Incorporated (NYSE:TDY – Free Report) – Research analysts at Zacks Research lowered their FY2023 earnings per share estimates for shares of Teledyne Technologies in a research note issued to investors on Tuesday, September 19th. Zacks Research analyst S. Kedia now anticipates that the scientific and technical instruments company will earn $19.10 per share for the year, down from their previous estimate of $19.13. The consensus estimate for Teledyne Technologies’ current full-year earnings is $19.12 per share. Zacks Research also issued estimates for Teledyne Technologies’ Q1 2024 earnings at $5.01 EPS, Q2 2024 earnings at $4.87 EPS, Q4 2024 earnings at $5.43 EPS and Q1 2025 earnings at $5.09 EPS.

Several other research analysts have also weighed in on the company. Needham & Company LLC dropped their target price on Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, July 27th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, The Goldman Sachs Group raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $500.40.

Get Our Latest Stock Analysis on TDY

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $417.88 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.62 and a quick ratio of 1.02. Teledyne Technologies has a fifty-two week low of $325.00 and a fifty-two week high of $448.71. The stock’s 50-day moving average is $404.41 and its two-hundred day moving average is $410.91. The firm has a market cap of $19.67 billion, a P/E ratio of 25.99, a PEG ratio of 3.45 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. Teledyne Technologies had a return on equity of 10.90% and a net margin of 13.75%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.43 EPS.

Insider Activity

In other news, CEO Robert Mehrabian sold 45,500 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the transaction, the chief executive officer now owns 196,052 shares of the company’s stock, valued at approximately $81,583,118.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Robert Mehrabian sold 45,500 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the completion of the sale, the chief executive officer now owns 196,052 shares in the company, valued at approximately $81,583,118.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Schack Wesley W. Von sold 376 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $412.30, for a total value of $155,024.80. Following the sale, the director now owns 11,967 shares of the company’s stock, valued at approximately $4,933,994.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,646 shares of company stock valued at $25,717,295. Insiders own 2.14% of the company’s stock.

Institutional Trading of Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. lifted its position in shares of Teledyne Technologies by 137.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 69 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 40 shares during the period. CVA Family Office LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $30,000. TCI Wealth Advisors Inc. lifted its position in shares of Teledyne Technologies by 236.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 74 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 52 shares during the period. Finally, Belpointe Asset Management LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $36,000. Institutional investors own 87.57% of the company’s stock.

About Teledyne Technologies

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Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.