IDEX (NYSE:IEX) Updates Q2 Earnings Guidance

IDEX (NYSE:IEX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.00-$2.05 for the period, compared to the consensus earnings per share estimate of $2.12. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IEX shares. StockNews.com raised IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Oppenheimer boosted their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated an outperform rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Citigroup upped their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus raised IDEX from a hold rating to a buy rating and lifted their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEX currently has a consensus rating of Moderate Buy and an average target price of $238.78.

IDEX Stock Up 1.0 %

Shares of NYSE IEX traded up $2.38 during mid-day trading on Tuesday, reaching $232.27. 381,827 shares of the company traded hands, compared to its average volume of 376,136. The company’s fifty day moving average is $236.47 and its two-hundred day moving average is $216.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The stock has a market cap of $17.58 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $788.90 million for the quarter, compared to analyst estimates of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. IDEX’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $2.01 EPS. On average, analysts expect that IDEX will post 8.34 earnings per share for the current year.

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.