Equities Analysts Offer Predictions for IDEX FY2024 Earnings

IDEX Co. (NYSE:IEX - Free Report) - Research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of IDEX in a research report issued to clients and investors on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings per share of $7.87 for the year, up from their prior estimate of $7.86. The consensus estimate for IDEX's current full-year earnings is $7.88 per share. Zacks Research also issued estimates for IDEX's Q2 2025 earnings at $2.17 EPS and Q2 2026 earnings at $2.37 EPS.

Several other analysts have also recently commented on IEX. Stifel Nicolaus raised their target price on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. TD Cowen dropped their target price on IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. DA Davidson decreased their price target on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, August 5th. Finally, Argus lowered shares of IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, IDEX presently has an average rating of "Moderate Buy" and an average price target of $241.14.

IDEX Trading Down 0.4 %

NYSE IEX traded down $0.92 on Wednesday, hitting $231.10. 728,186 shares of the stock were exchanged, compared to its average volume of 483,857. The company's 50-day moving average price is $216.30 and its two-hundred day moving average price is $207.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.61, a P/E/G ratio of 2.50 and a beta of 0.96.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX's dividend payout ratio (DPR) is presently 42.72%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Studio Investment Management LLC lifted its stake in shares of IDEX by 4.9% in the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company's stock valued at $205,000 after purchasing an additional 45 shares during the last quarter. UMB Bank n.a. lifted its position in shares of IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock worth $48,000 after buying an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock worth $72,000 after acquiring an additional 57 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 58 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

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.