Teledyne Technologies Incorporated (TDY) Releases Q4 Earnings Guidance
Teledyne Technologies Incorporated (NYSE:TDY) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.70-$1.75 for the period, compared to the Thomson Reuters consensus estimate of $1.63. Teledyne Technologies also updated its FY17 guidance to $6.66-$6.71 EPS.
Teledyne Technologies (NYSE:TDY) last posted its earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.34. The business had revenue of $662.20 million during the quarter, compared to analyst estimates of $656.20 million. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS.
TDY has been the subject of a number of research analyst reports. Needham & Company LLC upgraded Teledyne Technologies from a hold rating to a buy rating and set a $148.00 price target for the company in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a hold rating and issued a $140.00 price objective on shares of Teledyne Technologies in a research note on Friday, July 7th. Zacks Investment Research raised Teledyne Technologies from a hold rating to a buy rating and set a $166.00 price objective for the company in a research note on Tuesday, August 8th. BidaskClub raised Teledyne Technologies from a hold rating to a buy rating in a research note on Tuesday, August 8th. Finally, ValuEngine raised Teledyne Technologies from a hold rating to a buy rating in a research note on Friday, September 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $157.67.
In related news, Director Roxanne S. Austin sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $148.30, for a total value of $593,200.00. Following the transaction, the director now directly owns 11,458 shares in the company, valued at $1,699,221.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jason Vanwees sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $147.07, for a total value of $882,420.00. Following the completion of the transaction, the senior vice president now owns 35,159 shares in the company, valued at $5,170,834.13. The disclosure for this sale can be found here. In the last three months, insiders sold 14,000 shares of company stock valued at $2,060,420. Insiders own 3.30% of the company’s stock.
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Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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