IDEX (NYSE:IEX) Releases FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.150-8.450 for the period, compared to the consensus estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Wall Street Analysts Forecast Growth

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

IDEX Stock Performance

IEX traded down $1.35 during trading on Thursday, hitting $223.29. The company’s stock had a trading volume of 486,624 shares, compared to its average volume of 380,183. The business’s 50 day simple moving average is $236.49 and its 200-day simple moving average is $216.60. The firm has a market cap of $16.90 billion, a PE ratio of 29.38, a P/E/G ratio of 2.32 and a beta of 0.97. IDEX has a one year low of $183.76 and a one year high of $246.36. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a return on equity of 17.88% and a net margin of 17.89%. IDEX’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.09 EPS. As a group, sell-side analysts predict that IDEX will post 8.34 EPS for the current fiscal year.

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.