IDEX (NYSE:IEX) Updates Q2 Earnings Guidance

IDEX (NYSE:IEXGet Free Report) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.00-$2.05 for the period, compared to the consensus earnings per share estimate of $2.12. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. lowered shares of IDEX from a buy rating to a hold rating in a research note on Wednesday. Citigroup boosted their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 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. Oppenheimer increased their target price 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. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and boosted their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $238.78.

Read Our Latest Research Report on IDEX

IDEX Trading Down 3.3 %

IEX stock traded down $7.73 during midday trading on Wednesday, hitting $224.54. The stock had a trading volume of 336,630 shares, compared to its average volume of 375,447. The firm has a market cap of $17.00 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36. The company’s 50-day moving average price is $236.63 and its 200 day moving average price is $216.50.

IDEX (NYSE:IEXGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. On average, equities research analysts predict that IDEX will post 8.34 earnings per share for the current fiscal year.

IDEX Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for IDEX (NYSE:IEX)

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