IDEX Co. (NYSE:IEX) to Post FY2022 Earnings of $7.95 Per Share, Seaport Res Ptn Forecasts

Posted by MarketBeat News on Aug 1st, 2022

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IDEX Co. (NYSE:IEX – Get Rating) – Stock analysts at Seaport Res Ptn raised their FY2022 EPS estimates for shares of IDEX in a report released on Thursday, July 28th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will earn $7.95 per share for the year, up from their prior forecast of $7.63. The consensus estimate for IDEX’s current full-year earnings is $7.66 per share. Seaport Res Ptn also issued estimates for IDEX’s FY2023 earnings at $8.46 EPS.

IDEX (NYSE:IEX – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same period in the previous year, the business earned $1.61 earnings per share.

A number of other research firms also recently issued reports on IEX. Oppenheimer upgraded shares of IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 target price for the company in a report on Thursday, July 14th. Loop Capital dropped their price target on shares of IDEX from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. DA Davidson reiterated a “neutral” rating on shares of IDEX in a research note on Thursday, April 28th. Stifel Nicolaus lowered shares of IDEX from a “buy” rating to a “hold” rating and lowered their price target for the stock from $229.00 to $188.00 in a research report on Monday, July 18th. Finally, Morgan Stanley cut their price target on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Thursday, June 9th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.45.

IDEX Stock Performance

Shares of NYSE IEX opened at $208.75 on Monday. The company has a market cap of $15.87 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02. IDEX has a 12 month low of $172.18 and a 12 month high of $240.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.59 and a quick ratio of 2.68. The company has a 50-day simple moving average of $187.00 and a 200-day simple moving average of $192.78.

Hedge Funds Weigh In On IDEX

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of IDEX by 1,072.7% during the 1st quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. Riverview Trust Co purchased a new stake in IDEX in the first quarter worth $27,000. Parkside Financial Bank & Trust increased its position in IDEX by 120.3% in the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after buying an additional 77 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of IDEX in the fourth quarter valued at $31,000. Finally, Quent Capital LLC bought a new stake in IDEX during the fourth quarter valued at $46,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.15%. IDEX’s dividend payout ratio is currently 38.52%.

About IDEX

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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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.