Teledyne Technologies (NYSE:TDY) Announces Quarterly Earnings Results

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

Teledyne Technologies Price Performance

Shares of NYSE:TDY traded up $2.77 during trading on Thursday, hitting $472.86. 318,934 shares of the company’s stock were exchanged, compared to its average volume of 240,989. The business’s 50-day simple moving average is $434.94 and its 200 day simple moving average is $410.18. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.11 and a beta of 1.01. Teledyne Technologies has a 52-week low of $355.41 and a 52-week high of $474.14. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28.

Analysts Set New Price Targets

Several research firms have weighed in on TDY. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Needham & Company LLC lifted their target price on Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a research report on Thursday. Vertical Research assumed coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. Finally, TD Cowen boosted their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.