Teledyne Technologies Incorporated (TDY) Updates FY17 Earnings Guidance
Teledyne Technologies Incorporated (NYSE:TDY) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.66-$6.71 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.24. Teledyne Technologies also updated its Q4 guidance to $1.70-$1.75 EPS.
Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.34. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The firm had revenue of $662.20 million during the quarter, compared to analyst estimates of $656.20 million. During the same period last year, the company earned $1.46 EPS. Teledyne Technologies’s quarterly revenue was up 25.7% compared to the same quarter last year.
TDY has been the subject of a number of research analyst reports. Zacks Investment Research lowered Teledyne Technologies from a strong-buy rating to a hold rating in a research report on Wednesday, October 4th. ValuEngine lowered Teledyne Technologies from a buy rating to a hold rating in a research report on Monday, October 2nd. Jefferies Group LLC reaffirmed a hold rating and set a $150.00 target price (up from $145.00) on shares of Teledyne Technologies in a research report on Wednesday, August 9th. Needham & Company LLC upgraded Teledyne Technologies from a hold rating to a buy rating and set a $148.00 price target on the stock in a report on Wednesday, July 5th. Finally, BidaskClub upgraded Teledyne Technologies from a hold rating to a buy rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Teledyne Technologies has a consensus rating of Hold and a consensus price target of $157.67.
In other Teledyne Technologies news, SVP Jason Vanwees sold 6,000 shares of Teledyne Technologies stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $147.07, for a total transaction of $882,420.00. Following the completion of the sale, the senior vice president now owns 35,159 shares of the company’s stock, valued at approximately $5,170,834.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Melanie Susan Cibik sold 4,000 shares of Teledyne Technologies stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $146.20, for a total value of $584,800.00. Following the sale, the vice president now directly owns 26,280 shares of the company’s stock, valued at approximately $3,842,136. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $2,060,420. 3.30% of the stock is owned by company insiders.
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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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