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

IDEX (NYSE:IEX) 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.

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.