Equities Analysts Set Expectations for IDEX Co.’s Q2 2024 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for IDEX in a note issued to investors on Thursday, April 25th. DA Davidson analyst M. Summerville anticipates that the industrial products company will post earnings of $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 data 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 net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same quarter last year, the firm posted $2.09 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year.

Several other research firms have also issued reports on IEX. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $265.00 in a report on Thursday, February 8th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Finally, Robert W. Baird decreased their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.67.

IDEX Trading Down 1.2 %

Shares of IEX stock opened at $220.66 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.23 and a beta of 0.97. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a fifty day moving average price of $236.36 and a 200-day moving average price of $216.75.

Hedge Funds Weigh In On IDEX

A number of hedge funds and other institutional investors have recently modified their holdings of IEX. Riverview Trust Co purchased a new stake in IDEX in the 1st quarter worth $35,000. Planned Solutions Inc. purchased a new stake in shares of IDEX in the fourth quarter worth about $33,000. Quarry LP purchased a new stake in shares of IDEX in the fourth quarter worth about $36,000. EdgeRock Capital LLC bought a new position in IDEX during the fourth quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC purchased a new position in IDEX during the 4th quarter valued at approximately $50,000. Institutional investors own 97.96% of the company’s stock.

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.