Zacks Research Has Negative Outlook of IDEX FY2027 Earnings

IDEX Corporation (NYSE:IEX) – Equities researchers at Zacks Research cut their FY2027 EPS estimates for IDEX in a research note issued to investors on Wednesday, November 19th. Zacks Research analyst Team now anticipates that the industrial products company will post earnings of $9.28 per share for the year, down from their prior forecast of $9.48. The consensus estimate for IDEX’s current full-year earnings is $8.26 per share.

IDEX (NYSE:IEX) last posted its earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The business had revenue of $712.00 million for the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%.

A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus cut their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a report on Monday, October 20th. Oppenheimer set a $210.00 price objective on shares of IDEX in a research note on Tuesday, October 7th. Royal Bank Of Canada cut their target price on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Finally, DA Davidson set a $180.00 price target on IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.86.

IDEX Trading Up 0.8%

Shares of IEX opened at $162.93 on Friday. IDEX has a 1 year low of $153.36 and a 1 year high of $237.38. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $165.07 and a 200-day simple moving average of $171.86. The stock has a market cap of $12.20 billion, a PE ratio of 25.78, a PEG ratio of 1.83 and a beta of 1.04.

IDEX declared that its Board of Directors has initiated a share buyback plan on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, January 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. IDEX’s payout ratio is currently 44.94%.

Hedge Funds Weigh In On IDEX

Large investors have recently bought and sold shares of the business. Assetmark Inc. boosted its holdings in IDEX by 235.5% during the second quarter. Assetmark Inc. now owns 1,899 shares of the industrial products company’s stock worth $333,000 after buying an additional 1,333 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of IDEX in the 1st quarter valued at about $909,000. SG Americas Securities LLC raised its position in shares of IDEX by 70.1% in the 2nd quarter. SG Americas Securities LLC now owns 15,636 shares of the industrial products company’s stock valued at $2,745,000 after acquiring an additional 6,443 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of IDEX in the 2nd quarter valued at approximately $275,000. Finally, Swedbank AB boosted its stake in IDEX by 16.2% during the 1st quarter. Swedbank AB now owns 55,396 shares of the industrial products company’s stock worth $10,025,000 after acquiring an additional 7,726 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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.