IDEX (NYSE:IEX) Issues FY24 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $8.15-$8.45 for the period, compared to the consensus EPS estimate of $8.33. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

IDEX Stock Down 0.6 %

NYSE:IEX traded down $1.35 during mid-day trading on Thursday, hitting $223.29. The stock had a trading volume of 486,624 shares, compared to its average volume of 380,183. The stock has a 50-day simple moving average of $236.49 and a two-hundred day simple moving average of $216.60. The company has a market capitalization of $16.90 billion, a PE ratio of 29.38, a PEG ratio of 2.32 and a beta of 0.97. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. 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 (NYSE:IEX) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, equities research analysts anticipate that IDEX will post 8.34 EPS for the current year.

Analyst Upgrades and Downgrades

IEX has been the topic of several recent analyst reports. Oppenheimer increased their price target on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Robert W. Baird lowered their target price on shares of IDEX from $260.00 to $256.00 and set an outperform rating on the stock in a research report on Thursday. StockNews.com lowered shares of IDEX from a buy rating to a hold rating in a research report on Wednesday. Royal Bank of Canada restated an outperform rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Finally, Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and raised their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $241.67.

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.