IDEX (NYSE:IEX) Announces Quarterly Earnings Results

IDEX (NYSE:IEX) posted its earnings results on Tuesday. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01, Zacks reports. IDEX had a net margin of 15.35% and a return on equity of 15.92%.

IDEX Stock Down 0.2 %

IEX traded down $0.41 during trading hours on Tuesday, hitting $218.45. 602,537 shares of the company’s stock were exchanged, compared to its average volume of 441,479. The stock has a market cap of $16.54 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.21 and a beta of 0.97. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36. The stock’s 50-day moving average is $218.56 and its two-hundred day moving average is $211.99. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $0.69 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.26%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird cut their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup lowered their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus lifted their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $242.86.

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.