What is Zacks Research’s Estimate for IDEX FY2024 Earnings?

IDEX Co. (NYSE:IEX) – Stock analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of IDEX in a research report issued to clients and investors on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the industrial products company will earn $7.87 per share for the year, up from their prior estimate of $7.86. The consensus estimate for IDEX’s current full-year earnings is $7.88 per share. Zacks Research also issued estimates for IDEX’s Q2 2025 earnings at $2.17 EPS and Q2 2026 earnings at $2.37 EPS.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping 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 firm had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same period in the previous year, the firm posted $2.12 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis.

Several other research firms have also commented on IEX. Robert W. Baird dropped their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. TD Cowen decreased 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. Oppenheimer dropped their target price 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. Finally, Royal Bank of Canada lifted their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Trading Down 1.7 %

Shares of IEX stock opened at $232.02 on Wednesday. The company has a market cap of $17.57 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The stock’s 50 day simple moving average is $215.75 and its two-hundred day simple moving average is $207.86. IDEX has a 1 year low of $189.51 and a 1 year high of $246.36.

Institutional Trading of IDEX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after buying an additional 1,472,456 shares during the last quarter. Van ECK Associates Corp raised its position in shares of IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after purchasing an additional 273,460 shares in the last quarter. Hsbc Holdings PLC grew its position in IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after purchasing an additional 223,422 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new position in IDEX during the 3rd quarter valued at approximately $31,747,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

About IDEX

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.