Teledyne Technologies (TDY) Projected to Post Quarterly Earnings on Wednesday

Teledyne Technologies (NYSE:TDY) will likely be issuing its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $5.22 per share and revenue of $1,451,400.00 billion for the quarter.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $5.05 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect Teledyne Technologies to post $19 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Teledyne Technologies Stock Performance

TDY traded up $3.38 during trading on Wednesday, reaching $469.31. The company’s stock had a trading volume of 177,207 shares, compared to its average volume of 194,767. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company’s fifty day moving average price is $472.42 and its 200-day moving average price is $442.08. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00.

Insider Activity

In other news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the sale, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,525 shares of company stock worth $26,080,464 over the last ninety days. 1.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TDY has been the topic of a number of recent analyst reports. TD Cowen upped their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC increased 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. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $531.00.

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.