IDEX (NYSE:IEX) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

IDEX (NYSE:IEX - Get Free Report) posted its earnings results on Tuesday. The industrial products company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.01, Briefing.com reports. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the previous year, the business earned $2.12 earnings per share. The company's revenue for the quarter was up .6% on a year-over-year basis.

IDEX Stock Up 7.2 %

NYSE IEX traded up $14.76 during trading on Wednesday, reaching $218.64. 1,345,294 shares of the company's stock were exchanged, compared to its average volume of 463,813. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. The stock has a market cap of $16.55 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a 50 day moving average price of $206.51 and a two-hundred day moving average price of $207.70.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, October 11th. IDEX's dividend payout ratio (DPR) is 36.13%.

Analysts Set New Price Targets

Several research analysts recently commented on IEX shares. StockNews.com cut IDEX from a "buy" rating to a "hold" rating in a research note on Thursday, July 11th. DA Davidson lowered their target price on IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Monday, August 5th. Argus cut IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Oppenheimer lowered their target price on IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Finally, Stifel Nicolaus boosted their target price on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $239.43.

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.