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

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

Teledyne Technologies Price Performance

Shares of TDY traded down $3.67 during mid-day trading on Friday, reaching $469.19. 205,856 shares of the company’s stock were exchanged, compared to its average volume of 240,819. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.11 and a beta of 1.01. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $435.99 and a two-hundred day simple moving average of $410.56. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $475.73.

Analysts Set New Price Targets

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

About Teledyne Technologies

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.