IDEX (NYSE:IEX) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

IDEX (NYSE:IEXGet Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01, Briefing.com reports. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 earnings per share.

IDEX Stock Up 7.2 %

Shares of IDEX stock opened at $218.64 on Thursday. The company’s 50 day moving average is $206.51 and its 200 day moving average is $207.70. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is 36.13%.

Analyst Ratings Changes

A number of brokerages recently issued reports on IEX. DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Stifel Nicolaus upped their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird cut their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.43.

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IDEX Company Profile

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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.

Further Reading

Earnings History for IDEX (NYSE:IEX)

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