IDEX Corporation (IEX) Expected to Post Quarterly Sales of $568.53 Million

Analysts expect IDEX Corporation (NYSE:IEX) to announce sales of $568.53 million for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for IDEX Corporation’s earnings. The highest sales estimate is $577.20 million and the lowest is $563.00 million. IDEX Corporation reported sales of $549.70 million during the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, July 25th.

On average, analysts expect that IDEX Corporation will report full year sales of $568.53 million for the current financial year, with estimates ranging from $2.19 billion to $2.24 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.30 billion per share, with estimates ranging from $2.25 billion to $2.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for IDEX Corporation.

IDEX Corporation (NYSE:IEX) last issued its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.10. IDEX Corporation had a net margin of 12.89% and a return on equity of 19.19%. The business had revenue of $553.60 million during the quarter, compared to analysts’ expectations of $533.14 million. During the same period last year, the company posted $0.89 EPS. The company’s revenue was up 10.1% on a year-over-year basis.

IEX has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research report on Wednesday, May 10th. Robert W. Baird restated a “buy” rating and issued a $104.00 price target on shares of IDEX Corporation in a research report on Friday, April 21st. BMO Capital Markets restated a “hold” rating and issued a $104.00 price target on shares of IDEX Corporation in a research report on Wednesday, May 24th. Jefferies Group LLC restated a “hold” rating and issued a $79.00 price target on shares of IDEX Corporation in a research report on Wednesday, April 12th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $99.00 price target on shares of IDEX Corporation in a research report on Tuesday, April 11th. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $101.00.

Shares of IDEX Corporation (NYSE:IEX) traded up 0.70% on Friday, hitting $113.98. 119,070 shares of the stock were exchanged. IDEX Corporation has a one year low of $82.05 and a one year high of $114.94. The firm’s 50-day moving average is $109.50 and its 200-day moving average is $97.70. The company has a market cap of $8.70 billion, a P/E ratio of 31.40 and a beta of 1.19.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $1.48 annualized dividend and a yield of 1.31%. IDEX Corporation’s dividend payout ratio is presently 40.66%.

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In other IDEX Corporation news, SVP Jeffrey D. Bucklew sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the senior vice president now owns 2,726 shares in the company, valued at approximately $281,023.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael J. Yates sold 10,533 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $104.30, for a total transaction of $1,098,591.90. Following the completion of the transaction, the vice president now owns 34,418 shares in the company, valued at approximately $3,589,797.40. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. acquired a new position in shares of IDEX Corporation during the second quarter valued at approximately $1,446,000. Creative Planning raised its position in shares of IDEX Corporation by 98.5% in the second quarter. Creative Planning now owns 2,823 shares of the industrial products company’s stock valued at $319,000 after buying an additional 1,401 shares during the period. Bank of Montreal Can raised its position in shares of IDEX Corporation by 25.4% in the second quarter. Bank of Montreal Can now owns 19,710 shares of the industrial products company’s stock valued at $2,227,000 after buying an additional 3,991 shares during the period. Capstone Asset Management Co. raised its position in shares of IDEX Corporation by 3.5% in the second quarter. Capstone Asset Management Co. now owns 7,189 shares of the industrial products company’s stock valued at $812,000 after buying an additional 240 shares during the period. Finally, Stock Yards Bank & Trust Co. acquired a new position in shares of IDEX Corporation during the second quarter valued at approximately $287,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.

IDEX Corporation Company Profile

IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).

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Earnings History and Estimates for IDEX Corporation (NYSE:IEX)

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