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

Teledyne Technologies (NYSE:TDY) posted its earnings results on Wednesday. The scientific and technical instruments company reported $5.10 earnings per share 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 return on equity of 10.27% and a net margin of 15.86%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.05 earnings per share.

Teledyne Technologies Stock Performance

NYSE TDY traded down $3.67 during trading on Friday, reaching $469.19. The company’s stock had a trading volume of 205,856 shares, compared to its average volume of 240,819. The business’s fifty day moving average price is $435.99 and its 200-day moving average price is $410.56. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $475.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.11 and a beta of 1.01.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TDY shares. Vertical Research assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. 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 target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC raised their price target on Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.