IDEX (NYSE:IEX) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

IDEX (NYSE:IEX) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12, Briefing.com reports. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 earnings per share.

IDEX Stock Performance

Shares of IEX opened at $232.37 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. The stock has a 50-day moving average of $236.63 and a 200-day moving average of $216.50. The company has a market cap of $17.59 billion, a PE ratio of 29.64, a P/E/G ratio of 2.30 and a beta of 0.97. IDEX has a one year low of $183.76 and a one year high of $246.36.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Citigroup increased their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Oppenheimer increased their price target on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.