Zacks: Analysts Expect IDEX Co. (IEX) to Post $1.49 Earnings Per Share

Brokerages expect that IDEX Co. (NYSE:IEX) will announce earnings of $1.49 per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for IDEX’s earnings. The highest EPS estimate is $1.50 and the lowest is $1.47. IDEX reported earnings per share of $1.40 in the same quarter last year, which suggests a positive year-over-year growth rate of 6.4%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that IDEX will report full-year earnings of $5.82 per share for the current year, with EPS estimates ranging from $5.73 to $5.86. For the next year, analysts anticipate that the firm will report earnings of $6.15 per share, with EPS estimates ranging from $6.08 to $6.26. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow IDEX.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $634.38 million. IDEX had a net margin of 16.92% and a return on equity of 21.22%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share.

A number of brokerages have weighed in on IEX. Berenberg Bank began coverage on shares of IDEX in a research report on Wednesday. They issued a “buy” rating and a $180.00 price objective for the company. Zacks Investment Research downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer restated a “hold” rating on shares of IDEX in a research report on Wednesday, May 8th. DA Davidson restated a “neutral” rating on shares of IDEX in a research report on Friday, April 26th. Finally, Stifel Nicolaus upped their price target on shares of IDEX from $129.00 to $153.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $153.40.

In related news, SVP Jeffrey D. Bucklew sold 2,255 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the completion of the sale, the senior vice president now owns 2,255 shares of the company’s stock, valued at approximately $322,510.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew K. Silvernail sold 81,120 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $155.11, for a total transaction of $12,582,523.20. Following the sale, the chairman now directly owns 173,947 shares of the company’s stock, valued at approximately $26,980,919.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,950 shares of company stock valued at $16,936,898. Insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. grew its stake in IDEX by 64.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 72 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in IDEX during the 4th quarter valued at about $25,000. Parallel Advisors LLC grew its stake in IDEX by 55.7% during the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 73 shares in the last quarter. Lindbrook Capital LLC purchased a new stake in IDEX during the 4th quarter valued at about $32,000. Finally, Essex Investment Management Co. LLC purchased a new stake in IDEX during the 4th quarter valued at about $33,000. 94.64% of the stock is owned by institutional investors.

Shares of IDEX stock opened at $151.13 on Monday. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.59 and a beta of 1.27. IDEX has a fifty-two week low of $117.72 and a fifty-two week high of $159.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 2.45.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from IDEX’s previous quarterly dividend of $0.43. IDEX’s dividend payout ratio is 31.79%.

IDEX Company Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Earnings History and Estimates for IDEX (NYSE:IEX)

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