Teledyne Technologies (TDY) Issues Q3 Earnings Guidance

Teledyne Technologies (NYSE:TDY) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.01-2.06 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.04. Teledyne Technologies also updated its FY18 guidance to $8.18-8.28 EPS.

Shares of Teledyne Technologies stock traded up $7.90 during trading on Thursday, reaching $226.78. 339,900 shares of the stock traded hands, compared to its average volume of 158,484. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.77 and a beta of 1.07. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.50. Teledyne Technologies has a 52-week low of $142.17 and a 52-week high of $230.98.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Thursday, August 2nd. The scientific and technical instruments company reported $2.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.44. The firm had revenue of $732.50 million during the quarter, compared to analyst estimates of $707.12 million. Teledyne Technologies had a return on equity of 14.33% and a net margin of 9.63%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 earnings per share. equities analysts expect that Teledyne Technologies will post 7.75 EPS for the current fiscal year.

A number of research analysts have recently weighed in on TDY shares. Zacks Investment Research lowered Teledyne Technologies from a buy rating to a hold rating in a research report on Thursday, April 5th. Needham & Company LLC restated a buy rating and set a $210.00 price objective (up previously from $205.00) on shares of Teledyne Technologies in a research report on Friday, May 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $208.67.

In other news, VP Edwin Roks sold 11,334 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $206.00, for a total transaction of $2,334,804.00. Following the completion of the transaction, the vice president now owns 8,570 shares in the company, valued at $1,765,420. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Robert Mehrabian sold 53,666 shares of the firm’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $197.83, for a total value of $10,616,744.78. Following the transaction, the chairman now owns 282,673 shares of the company’s stock, valued at approximately $55,921,199.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,464 shares of company stock valued at $18,205,527. Company insiders own 3.73% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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