IDEX (NYSE:IEX) Releases FY24 Earnings Guidance

IDEX (NYSE:IEX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.85-7.90 for the period, compared to the consensus estimate of $7.86.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Robert W. Baird cut their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. TD Cowen cut their price objective 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 cut their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Stifel Nicolaus raised their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.43.

IDEX Stock Down 0.5 %

IEX stock traded down $0.96 during trading on Tuesday, reaching $203.88. 441,888 shares of the stock were exchanged, compared to its average volume of 459,448. The firm’s 50 day moving average is $206.07 and its 200 day moving average is $207.82. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.43 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. During the same period in the prior year, the business earned $2.18 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts forecast that IDEX will post 7.87 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed 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 1.35%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio is currently 36.13%.

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.