What is Zacks Research’s Forecast for TDY FY2024 Earnings?

Teledyne Technologies Incorporated (NYSE:TDY) – Research analysts at Zacks Research lifted their FY2024 earnings estimates for Teledyne Technologies in a research report issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings of $19.45 per share for the year, up from their prior forecast 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.

Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $450.00 to $550.00 in a report on Friday, November 8th. Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. 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. Finally, Needham & Company LLC upped their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Price Performance

Shares of TDY opened at $470.15 on Friday. The firm has a market capitalization of $21.91 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 3.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $492.00. The company’s fifty day moving average price is $449.30 and its 200-day moving average price is $417.90.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $5.05 earnings per share.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tortoise Investment Management LLC raised its position in shares of Teledyne Technologies by 48.0% during the 2nd 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 last quarter. Metis Global Partners LLC raised its position in shares of Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after purchasing an additional 24 shares during the last quarter. Crumly & Associates Inc. raised its position in shares of Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after purchasing an additional 25 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Teledyne Technologies by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after purchasing an additional 25 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after purchasing an additional 26 shares during the last quarter. 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.