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

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

Teledyne Technologies Stock Up 0.6 %

Shares of NYSE:TDY traded up $2.77 during midday trading on Thursday, reaching $472.86. 318,934 shares of the company were exchanged, compared to its average volume of 240,989. The firm has a market cap of $22.12 billion, a PE ratio of 25.71, a P/E/G ratio of 3.11 and a beta of 1.01. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $474.14. The stock has a fifty day simple moving average of $434.94 and a two-hundred day simple moving average of $410.18. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

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