IDEX (NYSE:IEX) Updates Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.000-2.050 for the period, compared to the consensus earnings per share estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com raised IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Royal Bank of Canada reissued an outperform rating and set a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and boosted their price target for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, Citigroup boosted their price target on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a report on Monday, April 8th. 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, the stock presently has a consensus rating of Moderate Buy and an average target price of $238.78.

IDEX Trading Up 1.1 %

IEX stock traded up $2.48 during trading on Tuesday, hitting $232.37. The company had a trading volume of 381,823 shares, compared to its average volume of 376,136. The business has a 50-day moving average of $236.63 and a 200-day moving average of $216.50. IDEX has a one year low of $183.76 and a one year high of $246.36. The stock has a market cap of $17.59 billion, a PE ratio of 29.64, a PEG ratio of 2.27 and a beta of 0.97. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The business had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. During the same period in the prior year, the business posted $2.09 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Research analysts predict that IDEX will post 8.34 earnings per share for the current fiscal 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.