Research Analysts Issue Forecasts for IDEX Co.’s Q3 2024 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Analysts at Seaport Res Ptn cut their Q3 2024 earnings estimates for shares of IDEX in a research report issued on Thursday, August 8th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $1.86 for the quarter, down from their prior estimate of $2.17. The consensus estimate for IDEX’s current full-year earnings is $7.85 per share.

Several other brokerages have also recently issued reports on IEX. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Robert W. Baird lowered their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. TD Cowen lowered their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

IDEX Trading Up 1.7 %

Shares of IEX opened at $194.57 on Monday. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a quick ratio of 2.45, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $200.69 and its two-hundred day moving average is $218.75. The stock has a market cap of $14.73 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter last year, the company earned $2.18 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after acquiring an additional 555,250 shares during the last quarter. Norges Bank purchased a new stake in IDEX in the fourth quarter valued at approximately $237,425,000. Charles Schwab Investment Management Inc. lifted its stake in IDEX by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock worth $132,164,000 after purchasing an additional 15,202 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of IDEX by 75.6% during the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after buying an additional 223,422 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of IDEX by 19.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock valued at $106,994,000 after buying an additional 81,780 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, July 12th. IDEX’s payout ratio is 36.32%.

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.