IDEX (NYSE:IEX) Releases Q2 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.00-$2.05 for the period, compared to the consensus estimate of $2.12. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

IDEX Stock Performance

IEX stock traded down $1.35 during midday trading on Thursday, reaching $223.29. 486,624 shares of the company’s stock traded hands, compared to its average volume of 380,183. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The stock has a market cap of $16.90 billion, a P/E ratio of 29.38, a PEG ratio of 2.32 and a beta of 0.97. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average is $236.49 and its 200 day moving average is $216.60.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. During the same period in the prior year, the company earned $2.09 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, analysts anticipate that IDEX will post 8.34 EPS for the current year.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an outperform rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. StockNews.com lowered shares of IDEX from a buy rating to a hold rating in a research report on Wednesday. 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 report on Monday, April 8th. Robert W. Baird dropped their price target on shares of IDEX from $260.00 to $256.00 and set an outperform rating for the company in a research report on Thursday. Finally, Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and upped their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $241.67.

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.