IDEX Co. (NYSE:IEX) Forecasted to Post Q2 2024 Earnings of $2.04 Per Share

IDEX Co. (NYSE:IEX) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of IDEX in a note issued to investors on Thursday, April 25th. DA Davidson analyst M. Summerville forecasts that the industrial products company will earn $2.04 per share for the quarter. The consensus estimate for IDEX’s current full-year earnings is $8.34 per share.

IDEX (NYSE:IEX) last posted its quarterly 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. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the prior year, the company earned $2.09 EPS. The business’s revenue was down 5.3% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. Robert W. Baird dropped their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Finally, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.67.

IDEX Price Performance

IEX opened at $220.66 on Friday. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $236.36 and its 200-day simple moving average is $216.69. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.24 and a beta of 0.97.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC raised its stake in shares of IDEX by 22.1% in the first quarter. Yousif Capital Management LLC now owns 12,857 shares of the industrial products company’s stock worth $3,137,000 after purchasing an additional 2,324 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of IDEX by 2.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,680 shares of the industrial products company’s stock worth $28,960,000 after purchasing an additional 2,548 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of IDEX by 8.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,018 shares of the industrial products company’s stock worth $5,617,000 after purchasing an additional 1,800 shares during the last quarter. Peterson Financial Group Inc. raised its stake in shares of IDEX by 40.1% in the first quarter. Peterson Financial Group Inc. now owns 15,369 shares of the industrial products company’s stock worth $3,750,000 after purchasing an additional 4,399 shares during the last quarter. Finally, Albert D Mason Inc. raised its stake in shares of IDEX by 1.0% in the first quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company’s stock worth $1,100,000 after purchasing an additional 45 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

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.