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

IDEX (NYSE:IEX) released its quarterly earnings data on Tuesday. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12, Briefing.com reports. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis.

IDEX Trading Up 1.1 %

Shares of IEX traded up $2.48 during mid-day trading on Tuesday, reaching $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 current ratio of 2.89 and a quick ratio of 2.05. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The business’s fifty day moving average is $236.47 and its 200 day moving average is $216.31. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 2.27 and a beta of 0.97.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price 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. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer upped their price objective 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average price target of $238.78.

About IDEX

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.