IDEX (NYSE:IEX) Updates FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.150-8.450 for the period, compared to the consensus estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IEX shares. Citigroup upped their target price on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Oppenheimer raised their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Royal Bank of Canada restated an outperform rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised shares of IDEX from a hold rating to a buy rating and upped their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, StockNews.com downgraded IDEX from a buy rating to a hold rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, IDEX has a consensus rating of Moderate Buy and an average target price of $241.67.

IDEX Price Performance

Shares of IEX traded down $1.35 on Thursday, hitting $223.29. The company’s stock had a trading volume of 486,624 shares, compared to its average volume of 380,183. 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 fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a 50 day moving average price of $236.49 and a 200 day moving average price of $216.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.88%. IDEX’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 EPS. On average, research analysts anticipate that IDEX will post 8.34 earnings per share for the current fiscal year.

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.