IDEX (NYSE:IEX) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

IDEX (NYSE:IEX) posted its quarterly earnings results on Tuesday. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01, Zacks reports. IDEX had a return on equity of 15.92% and a net margin of 15.35%.

IDEX Stock Performance

NYSE IEX traded down $0.41 during trading on Tuesday, reaching $218.45. The company’s stock had a trading volume of 602,537 shares, compared to its average volume of 441,479. The firm has a 50 day moving average price of $218.56 and a 200 day moving average price of $211.99. IDEX has a 12 month low of $189.51 and a 12 month high of $246.36. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, January 17th. IDEX’s dividend payout ratio is 42.72%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup reduced their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird dropped their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.86.

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.