IDEX (NYSE:IEX) Releases FY24 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Q2 guidance to $2.00-$2.05 EPS.

IDEX Trading Up 1.0 %

Shares of IDEX stock traded up $2.38 on Tuesday, hitting $232.27. 381,825 shares of the company’s stock traded hands, compared to its average volume of 376,136. The company has a fifty day moving average of $236.47 and a two-hundred day moving average of $216.31. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. 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 one year low of $183.76 and a one year high of $246.36.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada restated an outperform rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and boosted their price objective for the company from $215.00 to $265.00 in a research note 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. Citigroup boosted their target price on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. Finally, Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, IDEX presently has a consensus 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.