IDEX (NYSE:IEX) Updates Q2 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.00-$2.05 for the period, compared to the consensus EPS estimate of $2.12. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

IDEX Stock Up 1.0 %

IEX traded up $2.38 during trading on Tuesday, hitting $232.27. The stock had a trading volume of 381,825 shares, compared to its average volume of 376,136. The company has a market capitalization of $17.58 billion, a PE ratio of 29.74, a PEG ratio of 2.27 and a beta of 0.97. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. 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 stock has a 50 day simple moving average of $236.47 and a two-hundred day simple moving average of $216.31.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The firm had revenue of $788.90 million during the quarter, compared to the consensus estimate of $767.96 million. During the same period last year, the company earned $2.01 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts predict that IDEX will post 8.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of recent analyst reports. StockNews.com raised shares of IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Oppenheimer boosted their price target on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, April 18th. Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Royal Bank of Canada reiterated an outperform rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and raised their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $238.78.

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.