Teledyne Technologies (NYSE:TDY) Issues Earnings Results

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

Teledyne Technologies Trading Up 1.7 %

Shares of NYSE TDY traded up $7.25 during trading on Friday, reaching $422.95. The stock had a trading volume of 172,798 shares, compared to its average volume of 252,157. Teledyne Technologies has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The company has a market cap of $20.04 billion, a P/E ratio of 22.99, a PEG ratio of 2.94 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.98. The business’s 50-day moving average price is $393.89 and its 200-day moving average price is $409.29.

Analyst Ratings Changes

TDY has been the topic of a number of research analyst reports. TD Cowen reduced their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC lifted their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America cut 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 research note on Friday, April 26th. Finally, Vertical Research assumed coverage on Teledyne Technologies in a research note on Tuesday. They issued a “buy” rating and a $470.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.