Zacks Research Weighs in on IDEX Co.’s FY2024 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Investment analysts at Zacks Research dropped their FY2024 earnings estimates for shares of IDEX in a report released on Tuesday, April 16th. Zacks Research analyst R. Department now expects that the industrial products company will post earnings of $8.37 per share for the year, down from their previous forecast of $8.40. The consensus estimate for IDEX’s current full-year earnings is $8.35 per share. Zacks Research also issued estimates for IDEX’s Q4 2024 earnings at $2.28 EPS, Q2 2025 earnings at $2.51 EPS, Q4 2025 earnings at $2.31 EPS and Q1 2026 earnings at $2.44 EPS.

IEX has been the topic of a number of other reports. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup boosted their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.00.

IDEX Price Performance

Shares of NYSE:IEX opened at $226.83 on Thursday. The firm has a 50 day moving average of $236.43 and a 200-day moving average of $215.81. The stock has a market capitalization of $17.17 billion, a PE ratio of 28.93, a PEG ratio of 2.29 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 has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $788.90 million during the quarter, compared to analysts’ expectations of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 EPS.

Institutional Investors Weigh In On IDEX

A number of institutional investors have recently modified their holdings of IEX. Riverview Trust Co acquired a new position in shares of IDEX during the 1st quarter valued at $35,000. Lloyd Advisory Services LLC. lifted its position in shares of IDEX by 525.4% during the 1st quarter. Lloyd Advisory Services LLC. now owns 8,800 shares of the industrial products company’s stock valued at $2,147,000 after acquiring an additional 7,393 shares during the period. Ballentine Partners LLC acquired a new position in shares of IDEX during the 1st quarter valued at $201,000. Cadent Capital Advisors LLC acquired a new position in shares of IDEX during the 1st quarter valued at $212,000. Finally, Park Avenue Securities LLC lifted its position in shares of IDEX by 13.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,293 shares of the industrial products company’s stock valued at $559,000 after acquiring an additional 278 shares during the period. 97.96% of the stock is owned by institutional investors.

About IDEX

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.