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

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

Teledyne Technologies Price Performance

NYSE:TDY traded up $9.24 during trading hours on Friday, reaching $424.94. The stock had a trading volume of 77,294 shares, compared to its average volume of 251,489. The company has a 50 day moving average price of $393.89 and a two-hundred day moving average price of $409.29. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $448.19. The stock has a market capitalization of $20.13 billion, a PE ratio of 22.48, 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.

Analyst Upgrades and Downgrades

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

Teledyne Technologies Company Profile

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.