IDEX (NYSE:IEX) Issues FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 8.150-8.450 for the period, compared to the consensus EPS estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Analysts Set New Price Targets

IEX has been the subject of several recent analyst reports. Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and increased their price target for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Citigroup increased their target price on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Robert W. Baird dropped their price objective on IDEX from $260.00 to $256.00 and set an outperform rating for the company in a report on Thursday. Finally, Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, IDEX presently has an average rating of Moderate Buy and a consensus price target of $241.67.

IDEX Stock Down 0.8 %

NYSE IEX traded down $1.76 during mid-day trading on Friday, reaching $221.52. The stock had a trading volume of 76,788 shares, compared to its average volume of 376,359. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The stock has a market cap of $16.77 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The company has a fifty day moving average price of $236.49 and a 200 day moving average price of $216.60.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts expect that IDEX will post 8.34 earnings per share for the current year.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.