IDEX (NYSE:IEX) Releases Q4 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.010-2.060 for the period, compared to the consensus estimate of 2.030. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 7.850-7.900 EPS.

IDEX Stock Up 1.3 %

IEX traded up $2.74 during mid-day trading on Friday, reaching $217.38. 259,555 shares of the stock were exchanged, compared to its average volume of 465,248. The stock has a market capitalization of $16.46 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. IDEX has a 1 year low of $189.33 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.52 and a current ratio of 2.97. The company has a 50 day moving average price of $206.81 and a two-hundred day moving average price of $207.75.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 EPS. As a group, research analysts anticipate that IDEX will post 7.86 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Friday, October 11th. IDEX’s payout ratio is 42.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IEX shares. TD Cowen lowered their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer lowered their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada boosted their price objective on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus boosted their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

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.