IDEX (NYSE:IEX) Issues FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.850-7.900 for the period, compared to the consensus EPS estimate of 7.860. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $7.85-7.90 EPS.

IDEX Price Performance

IDEX stock traded up $2.74 during trading hours on Friday, reaching $217.38. 259,555 shares of the stock were exchanged, compared to its average volume of 465,248. The company has a market cap of $16.46 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. The company has a current ratio of 2.97, a quick ratio of 2.52 and a debt-to-equity ratio of 0.54. IDEX has a twelve month low of $189.33 and a twelve month high of $246.36. The stock has a 50 day moving average of $206.81 and a two-hundred day moving average of $207.75.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same period last year, the company posted $2.12 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts expect that IDEX will post 7.86 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.69 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.27%. IDEX’s payout ratio is currently 42.72%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, TD Cowen dropped their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $241.14.

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.