Teledyne Technologies (NYSE:TDY) Issues Earnings Results, Beats Estimates By $0.13 EPS

by · The Markets Daily

Teledyne Technologies (NYSE:TDY – Get Free Report) released its earnings results on Wednesday. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13, Briefing.com reports. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.05 earnings per share.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded up $2.77 during midday trading on Thursday, reaching $472.86. 318,934 shares of the company traded hands, compared to its average volume of 240,989. 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 has a 12 month low of $355.41 and a 12 month high of $474.14. The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. The business has a 50 day moving average of $434.94 and a two-hundred day moving average of $410.18.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC increased their target price on Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Get Our Latest Stock Analysis on TDY

About Teledyne Technologies

(Get Free Report)

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.

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