IDEX (NYSE:IEX) Issues Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.000-2.050 for the period, compared to the consensus EPS estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IEX shares. Stifel Nicolaus raised shares of IDEX from a hold rating to a buy rating and increased their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Oppenheimer increased their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Citigroup increased their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a research report on Monday, April 8th. StockNews.com downgraded shares of IDEX from a buy rating to a hold rating in a research report on Wednesday. Finally, Robert W. Baird lowered their price objective on shares of IDEX from $260.00 to $256.00 and set an outperform rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, IDEX has an average rating of Moderate Buy and an average price target of $241.67.

IDEX Stock Performance

IEX stock traded down $1.76 during mid-day trading on Friday, reaching $221.52. The company had a trading volume of 76,788 shares, compared to its average volume of 376,359. IDEX has a one year low of $183.76 and a one year high of $246.36. The stock’s 50-day simple moving average is $236.49 and its two-hundred day simple moving average is $216.60. The company has a quick ratio of 2.05, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $16.77 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.24 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its quarterly earnings data 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. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. During the same period in the previous year, the business earned $2.09 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. Research analysts anticipate that IDEX will post 8.34 EPS 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.