Teledyne Technologies (NYSE:TDY) Releases Earnings Results, Beats Expectations By $0.09 EPS

Teledyne Technologies (NYSE:TDY) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09, Briefing.com reports. The business 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 15.81% and a return on equity of 10.54%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.67 earnings per share.

Teledyne Technologies Trading Up 3.7 %

NYSE:TDY opened at $417.00 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. The company has a market capitalization of $19.76 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.83 and a beta of 1.00. The stock’s 50 day moving average price is $393.62 and its 200 day moving average price is $409.25. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $448.19.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. TD Cowen lowered their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Vertical Research initiated coverage on Teledyne Technologies in a report on Tuesday. They issued a “buy” rating and a $470.00 price target for the company. Needham & Company LLC lowered their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $470.71.

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.