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

Teledyne Technologies (NYSE:TDY) released its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $4.67 EPS. Teledyne Technologies’s revenue for the quarter was down 3.8% on a year-over-year basis.

Teledyne Technologies Stock Performance

Shares of TDY opened at $421.56 on Friday. The business has a 50-day simple moving average of $394.20 and a two-hundred day simple moving average of $409.16. The company has a quick ratio of 1.29, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a 52 week low of $355.41 and a 52 week high of $448.19. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.93 and a beta of 1.00.

Analyst Ratings Changes

A number of brokerages have recently commented on TDY. TD Cowen reduced their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday. Vertical Research started coverage on shares of Teledyne Technologies in a report on Tuesday. They issued 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. Finally, Bank of America cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $490.00 to $400.00 in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.