IDEX Co. (IEX) Expected to Post Earnings of $1.37 Per Share

Equities research analysts expect IDEX Co. (NYSE:IEX) to report $1.37 earnings per share for the current quarter, according to Zacks. Eight analysts have made estimates for IDEX’s earnings, with the highest EPS estimate coming in at $1.42 and the lowest estimate coming in at $1.34. IDEX reported earnings per share of $1.29 during the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that IDEX will report full year earnings of $5.73 per share for the current financial year, with EPS estimates ranging from $5.65 to $5.80. For the next year, analysts expect that the company will post earnings of $6.13 per share, with EPS estimates ranging from $5.99 to $6.27. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for IDEX.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. The business had revenue of $614.09 million during the quarter, compared to analyst estimates of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS.

A number of equities research analysts recently weighed in on IEX shares. Zacks Investment Research reaffirmed a “buy” rating and set a $141.00 price target on shares of IDEX in a report on Monday, December 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Stifel Nicolaus increased their price objective on shares of IDEX from $129.00 to $153.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating in a research note on Friday, March 29th. Finally, Royal Bank of Canada upgraded shares of IDEX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $141.00 to $146.00 in a research note on Thursday, January 3rd. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $146.67.

In other IDEX news, VP Michael J. Yates sold 11,397 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the transaction, the vice president now directly owns 26,590 shares in the company, valued at approximately $3,848,104.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the transaction, the senior vice president now owns 2,255 shares in the company, valued at $322,510.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of IDEX by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 324,369 shares of the industrial products company’s stock worth $48,873,000 after buying an additional 3,945 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of IDEX by 54.1% in the 3rd quarter. Renaissance Technologies LLC now owns 75,525 shares of the industrial products company’s stock worth $11,379,000 after buying an additional 26,500 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of IDEX by 4.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 127,318 shares of the industrial products company’s stock worth $19,182,000 after buying an additional 4,892 shares during the last quarter. Man Group plc lifted its position in shares of IDEX by 24.6% in the 3rd quarter. Man Group plc now owns 30,590 shares of the industrial products company’s stock worth $4,609,000 after buying an additional 6,033 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of IDEX by 5.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,496 shares of the industrial products company’s stock worth $2,787,000 after buying an additional 1,016 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

IEX traded down $3.39 during trading hours on Friday, reaching $153.32. 440,800 shares of the stock traded hands, compared to its average volume of 319,956. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.66 and a beta of 1.29. IDEX has a fifty-two week low of $117.72 and a fifty-two week high of $159.10. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.43.

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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Earnings History and Estimates for IDEX (NYSE:IEX)

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