IDEX (NYSE:IEX) Issues Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.000-2.050 for the period, compared to the consensus estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IEX shares. Oppenheimer lifted their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and upped their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Citigroup raised their price objective on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. StockNews.com lowered IDEX from a buy rating to a hold rating in a research note on Wednesday. Finally, Royal Bank of Canada restated an outperform rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $238.78.

IDEX Price Performance

Shares of IEX stock traded down $7.97 during trading on Wednesday, hitting $224.30. The company had a trading volume of 374,502 shares, compared to its average volume of 375,892. The firm has a market capitalization of $16.98 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. IDEX has a one year low of $183.76 and a one year high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. The stock’s 50-day moving average price is $236.63 and its 200 day moving average price is $216.50.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that IDEX will post 8.34 EPS for the current fiscal year.

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.