IDEX (NYSE:IEX) Issues FY 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 7.850-7.900 for the period, compared to the consensus estimate of 7.860. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $7.85-7.90 EPS.

IDEX Stock Performance

Shares of NYSE IEX traded down $0.96 during trading on Tuesday, reaching $203.88. 441,888 shares of the stock traded hands, compared to its average volume of 459,488. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The stock has a market capitalization of $15.43 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a 50-day moving average of $206.07 and a 200-day moving average of $207.82.

IDEX (NYSE:IEX) last announced its quarterly earnings data 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 return on equity of 16.87% and a net margin of 18.19%. The business had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. During the same period in the previous year, the business posted $2.18 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Analysts forecast that IDEX will post 7.87 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio is currently 36.13%.

Wall Street Analyst Weigh In

IEX has been the topic of a number of research reports. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Argus cut IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. TD Cowen decreased their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Robert W. Baird decreased their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Oppenheimer decreased their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, IDEX has an average rating of “Moderate Buy” and an average target price of $239.43.

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.