Wall Street analysts expect IDEX Co. (NYSE:IEX) to announce $1.49 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for IDEX’s earnings. The lowest EPS estimate is $1.47 and the highest is $1.50. IDEX reported earnings of $1.40 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The company is expected to issue its next quarterly earnings report on Tuesday, July 23rd.
On average, analysts expect that IDEX will report full-year earnings of $5.82 per share for the current financial year, with EPS estimates ranging from $5.73 to $5.86. For the next financial year, analysts forecast that the business will post earnings of $6.15 per share, with EPS estimates ranging from $6.08 to $6.26. Zacks’ earnings per share averages are an average based on a survey of analysts that cover IDEX.
IDEX (NYSE:IEX) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.07. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The business had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $634.38 million. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis.
IEX has been the topic of a number of recent research reports. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Thursday, May 2nd. Berenberg Bank initiated coverage on IDEX in a research report on Wednesday, May 15th. They set a “buy” rating and a $180.00 price target on the stock. Oppenheimer reaffirmed a “hold” rating on shares of IDEX in a research report on Wednesday, May 8th. Stifel Nicolaus upped their price target on IDEX from $129.00 to $153.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Finally, Janney Montgomery Scott cut IDEX from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $153.00.
In related news, VP Michael J. Yates sold 15,178 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $156.97, for a total transaction of $2,382,490.66. Following the sale, the vice president now directly owns 38,590 shares in the company, valued at approximately $6,057,472.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 81,120 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $155.11, for a total value of $12,582,523.20. Following the sale, the chairman now owns 173,947 shares in the company, valued at $26,980,919.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,423 shares of company stock worth $16,055,566. 1.20% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of IDEX by 0.8% during the 1st quarter. BlackRock Inc. now owns 8,048,153 shares of the industrial products company’s stock valued at $1,221,229,000 after purchasing an additional 65,516 shares during the period. Vanguard Group Inc raised its stake in shares of IDEX by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock valued at $1,054,197,000 after purchasing an additional 95,176 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of IDEX by 10,176.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 4,809,330 shares during the period. FMR LLC raised its stake in shares of IDEX by 5.4% during the 1st quarter. FMR LLC now owns 1,826,878 shares of the industrial products company’s stock valued at $277,210,000 after purchasing an additional 93,320 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of IDEX by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,267,586 shares of the industrial products company’s stock valued at $192,343,000 after purchasing an additional 11,041 shares during the period. Institutional investors own 94.66% of the company’s stock.
Shares of NYSE IEX traded down $1.79 during trading on Wednesday, reaching $160.30. 330,900 shares of the stock traded hands, compared to its average volume of 319,181. IDEX has a 52-week low of $117.72 and a 52-week high of $165.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 2.45. The stock has a market capitalization of $12.23 billion, a PE ratio of 29.63, a P/E/G ratio of 2.78 and a beta of 1.21.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, May 16th. This is a boost from IDEX’s previous quarterly dividend of $0.43. IDEX’s dividend payout ratio is currently 36.97%.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, 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.
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