IDEX (NYSE:IEX – Get Free Report) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.00-$2.05 for the period, compared to the consensus EPS estimate of $2.12. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Oppenheimer increased their target price on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. StockNews.com downgraded IDEX from a buy rating to a hold rating in a research report on Wednesday. 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. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and raised their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Citigroup lifted their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEX currently has an average rating of Moderate Buy and a consensus target price of $238.78.
Get Our Latest Stock Analysis on IDEX
IDEX Price Performance
IDEX (NYSE:IEX – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the company posted $2.09 EPS. As a group, sell-side analysts expect 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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