Equities analysts expect IDEX Co. (NYSE:IEX) to report earnings per share of $1.62 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for IDEX’s earnings, with estimates ranging from $1.60 to $1.63. IDEX posted earnings per share of $1.10 during the same quarter last year, which would indicate a positive year-over-year growth rate of 47.3%. The company is scheduled to report its next quarterly earnings results on Thursday, July 22nd.
On average, analysts expect that IDEX will report full-year earnings of $6.17 per share for the current fiscal year, with EPS estimates ranging from $6.15 to $6.20. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.71 per share, with EPS estimates ranging from $6.65 to $6.81. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow IDEX.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Monday, April 26th. The industrial products company reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.10. IDEX had a net margin of 16.13% and a return on equity of 16.70%. The business had revenue of $652.04 million during the quarter, compared to analysts’ expectations of $634.96 million. During the same period last year, the company posted $1.33 EPS. The company’s revenue was up 9.7% on a year-over-year basis.
A number of analysts recently issued reports on IEX shares. Royal Bank of Canada raised their target price on shares of IDEX from $232.00 to $247.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. DA Davidson raised their target price on shares of IDEX from $190.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 29th. They noted that the move was a valuation call. Rosenblatt Securities raised their target price on shares of IDEX from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. Wells Fargo & Company raised their target price on shares of IDEX from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. Finally, Morgan Stanley raised their target price on shares of IDEX from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $223.44.
In related news, SVP Denise R. Cade sold 2,165 shares of IDEX stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $228.00, for a total transaction of $493,620.00. Following the transaction, the senior vice president now owns 9,824 shares in the company, valued at approximately $2,239,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Denise R. Cade sold 10,835 shares of IDEX stock in a transaction on Monday, May 10th. The shares were sold at an average price of $228.00, for a total transaction of $2,470,380.00. Following the transaction, the senior vice president now owns 10,893 shares in the company, valued at approximately $2,483,604. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its holdings in shares of IDEX by 2.4% during the 1st quarter. Coldstream Capital Management Inc. now owns 5,987 shares of the industrial products company’s stock valued at $1,253,000 after acquiring an additional 139 shares in the last quarter. Axiom Investment Management LLC acquired a new position in shares of IDEX during the 1st quarter valued at $235,000. Baker Tilly Wealth Management LLC increased its stake in IDEX by 28.1% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 1,392 shares of the industrial products company’s stock worth $291,000 after buying an additional 305 shares during the period. TownSquare Capital LLC increased its stake in IDEX by 6.7% during the 1st quarter. TownSquare Capital LLC now owns 6,470 shares of the industrial products company’s stock worth $1,354,000 after buying an additional 408 shares during the period. Finally, Tortoise Capital Advisors L.L.C. increased its stake in IDEX by 41.0% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 4,367 shares of the industrial products company’s stock worth $914,000 after buying an additional 1,269 shares during the period. Institutional investors and hedge funds own 96.93% of the company’s stock.
Shares of IEX opened at $217.74 on Thursday. IDEX has a 1-year low of $145.85 and a 1-year high of $235.76. The stock’s 50 day simple moving average is $222.21. The stock has a market cap of $16.53 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.57 and a current ratio of 4.37.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Thursday, July 15th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 14th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.99%. IDEX’s dividend payout ratio (DPR) is presently 41.62%.
IDEX Company Profile
IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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