Teledyne Technologies (NYSE:TDY) Announces Earnings Results, Beats Expectations By $0.09 EPS

Teledyne Technologies (NYSE:TDY) posted its earnings results on Wednesday. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating the consensus estimate of $4.49 by $0.09, Briefing.com reports. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $4.67 earnings per share.

Teledyne Technologies Stock Up 2.2 %

Shares of Teledyne Technologies stock traded up $9.24 during trading on Friday, reaching $424.94. 77,294 shares of the company traded hands, compared to its average volume of 251,489. The firm has a market capitalization of $20.13 billion, a PE ratio of 22.48, a P/E/G ratio of 2.94 and a beta of 1.00. Teledyne Technologies has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a 50 day moving average price of $393.89 and a 200-day moving average price of $409.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.29.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TDY shares. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $490.00 to $400.00 in a report on Friday, April 26th. TD Cowen reduced their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday. They set a “buy” rating and a $470.00 price objective for the company. Finally, Needham & Company LLC increased their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $474.57.

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.