IDEX (NYSE:IEX) Issues FY24 Earnings Guidance

IDEX (NYSE:IEX) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $7.85-7.90 for the period, compared to the consensus EPS estimate of $7.86. IDEX also updated its FY 2024 guidance to 7.850-7.900 EPS.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus increased 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. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, Robert W. Baird cut their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.43.

IDEX Trading Up 7.2 %

Shares of NYSE IEX traded up $14.76 during mid-day trading on Wednesday, reaching $218.64. 1,345,294 shares of the company’s stock were exchanged, compared to its average volume of 463,813. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company’s 50-day moving average is $206.51 and its 200-day moving average is $207.70.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 EPS. Analysts expect that IDEX will post 7.87 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued 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, October 11th. IDEX’s dividend payout ratio (DPR) is 36.13%.

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.