IDEX (NYSE:IEX) Releases Q2 Earnings Guidance

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

Analysts Set New Price Targets

Several research analysts recently issued reports on IEX shares. Citigroup increased their price objective on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Oppenheimer upped their price target 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 raised shares of 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 report on Thursday, February 8th. StockNews.com raised shares of IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $238.78.

IDEX Price Performance

IEX stock traded up $2.38 during mid-day trading on Tuesday, reaching $232.27. 381,827 shares of the company’s stock were exchanged, compared to its average volume of 376,136. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. The stock’s 50 day moving average is $236.47 and its 200 day moving average is $216.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. The company 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.01 EPS. On average, research analysts expect that IDEX will post 8.34 EPS 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.