IDEX (NYSE:IEX) Issues Q2 Earnings Guidance

IDEX (NYSE:IEX) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $2.00-$2.05 for the period, compared to the consensus EPS estimate of $2.12. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IEX. Stifel Nicolaus raised shares of IDEX from a hold rating to a buy rating and boosted their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Robert W. Baird reduced their price objective on shares of IDEX from $260.00 to $256.00 and set an outperform rating on the stock in a research note on Thursday. StockNews.com cut shares of IDEX from a buy rating to a hold rating in a research note on Wednesday. Royal Bank of Canada reissued an outperform rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Finally, Oppenheimer boosted their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $241.67.

IDEX Trading Down 0.6 %

IEX traded down $1.35 during trading on Thursday, reaching $223.29. 486,624 shares of the stock traded hands, compared to its average volume of 380,183. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $16.90 billion, a PE ratio of 29.38, a P/E/G ratio of 2.32 and a beta of 0.97. The stock’s 50-day moving average is $236.49 and its 200 day moving average is $216.60. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Equities analysts anticipate that IDEX will post 8.34 earnings per share for the current year.

About IDEX

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.