IDEX (NYSE:IEX) Updates FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

A number of brokerages have recently commented on IEX. Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird decreased 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. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. DA Davidson decreased 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, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.43.

IDEX Stock Performance

Shares of IEX stock traded up $14.76 during mid-day trading on Wednesday, reaching $218.64. The stock had a trading volume of 1,345,294 shares, compared to its average volume of 463,813. The firm’s 50 day simple moving average is $206.51 and its 200 day simple moving average is $207.70. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX has a one year low of $183.76 and a one year high of $246.36. The firm has a market cap of $16.55 billion, a PE ratio of 28.62, a P/E/G ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the company earned $2.12 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts forecast that IDEX will post 7.87 EPS for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.69 per share. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.26%. IDEX’s dividend payout ratio (DPR) is presently 36.13%.

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.