Teledyne Technologies (NYSE:TDY) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Teledyne Technologies (NYSE:TDY) issued its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13, Briefing.com reports. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.05 EPS.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded up $2.77 during midday trading on Thursday, reaching $472.86. The stock had a trading volume of 318,934 shares, compared to its average volume of 240,989. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. Teledyne Technologies has a 12-month low of $355.41 and a 12-month high of $474.14. The stock has a 50-day moving average of $434.94 and a 200-day moving average of $410.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. 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 for the company. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC boosted their price target on Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Teledyne Technologies has a consensus rating of “Moderate Buy” and a consensus price target 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.