IDEX (NYSE:IEX) Issues Quarterly Earnings Results

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

IDEX Stock Performance

NYSE IEX opened at $218.64 on Thursday. The company has a market cap of $16.55 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.20 and a beta of 0.95. The business’s 50 day moving average price is $206.51 and its 200-day moving average price is $207.70. IDEX has a fifty-two week low of $183.76 and a fifty-two week 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.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, October 11th. IDEX’s payout ratio is 36.13%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada cut their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, DA Davidson cut their price objective 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.