Techne Corp. Given Fair Value Rating at Janney Montgomery Scott (TECH)
Techne Corp. (NASDAQ:TECH)‘s stock had its “fair value” rating restated by equities researchers at Janney Montgomery Scott in a research report issued on Tuesday. They currently have a $101.00 price target on the stock, up from their previous price target of $93.00. Janney Montgomery Scott’s target price suggests a potential upside of 6.65% from the company’s current price.
Techne Corp. (NASDAQ:TECH) traded down 0.59% during mid-day trading on Tuesday, hitting $94.14. The stock had a trading volume of 51,116 shares. Techne Corp. has a 52 week low of $73.96 and a 52 week high of $96.96. The stock’s 50-day moving average is $92.22 and its 200-day moving average is $89.23. The company has a market cap of $3.483 billion and a price-to-earnings ratio of 31.15.
Techne Corp. (NASDAQ:TECH) last released its earnings data on Monday, August 11th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.03. The company had revenue of $92.50 million for the quarter, compared to the consensus estimate of $91.80 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts expect that Techne Corp. will post $3.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Thursday, August 21st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, August 19th.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls.
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