IDEX (NYSE:IEX) Releases FY 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 8.150-8.450 for the period, compared to the consensus earnings per share estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup increased their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Royal Bank of Canada reissued an outperform rating and set a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer increased their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and increased their price objective for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Finally, StockNews.com raised IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $238.78.

IDEX Trading Up 1.1 %

Shares of IDEX stock traded up $2.48 during midday trading on Tuesday, reaching $232.37. 381,823 shares of the company’s stock traded hands, compared to its average volume of 376,136. 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 company has a market cap of $17.59 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. The stock has a 50 day moving average of $236.63 and a 200-day moving average of $216.50. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 earnings per share. As a group, 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.