IDEX (NYSE:IEX – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $8.15-$8.45 for the period, compared to the consensus EPS estimate of $8.33. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.
Analyst Ratings Changes
IEX has been the subject of a number of recent analyst reports. StockNews.com cut IDEX from a buy rating to a hold rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an outperform rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Citigroup boosted their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and raised their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $238.78.
View Our Latest Analysis on IEX
IDEX Price Performance
IDEX (NYSE:IEX – Get Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The company 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 company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. On average, equities analysts anticipate that IDEX will post 8.34 earnings per share for the current 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.
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