Teledyne Technologies (NYSE:TDY – Get Free Report) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $4.90-$5.00 for the period, compared to the consensus EPS estimate of $5.01. Teledyne Technologies also updated its FY 2024 guidance to 19.250-19.450 EPS.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Bank of America cut Teledyne Technologies from a buy rating to a neutral rating and cut their target price for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. StockNews.com raised Teledyne Technologies from a hold rating to a buy rating in a report on Thursday, July 18th. Vertical Research assumed coverage on Teledyne Technologies in a report on Tuesday. They set a buy rating and a $470.00 price target on the stock. Needham & Company LLC raised their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a buy rating in a report on Thursday. Finally, TD Cowen lowered their price target on Teledyne Technologies from $475.00 to $450.00 and set a buy rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies currently has an average rating of Moderate Buy and a consensus target price of $474.57.
View Our Latest Stock Report on TDY
Teledyne Technologies Price Performance
Teledyne Technologies (NYSE:TDY – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $4.67 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Teledyne Technologies will post 19.34 EPS for the current year.
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.
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