IDEX (NYSE:IEX) Updates FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 8.150-8.450 for the period, compared to the consensus earnings per share estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of IDEX from a hold rating to a buy rating in a report on Tuesday, April 16th. Royal Bank of Canada restated an outperform rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer upped their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Citigroup upped their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and increased their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $238.78.

IDEX Stock Performance

Shares of NYSE IEX traded up $2.48 during mid-day trading on Tuesday, hitting $232.37. The stock had a trading volume of 381,823 shares, compared to its average volume of 376,136. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. The company has a 50 day moving average of $236.47 and a two-hundred day moving average of $216.31. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The firm has a market cap of $17.59 billion, a PE ratio of 29.74, a PEG ratio of 2.27 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. IDEX’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.09 EPS. Research analysts predict that IDEX will post 8.34 EPS for the current fiscal year.

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.