IDEX (NYSE:IEX) Issues Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.000-2.050 for the period, compared to the consensus earnings per share estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IEX shares. Citigroup boosted 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 upped their target price 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. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and upped their price objective for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Robert W. Baird decreased their price objective on IDEX from $260.00 to $256.00 and set an outperform rating for the company in a report on Thursday. Finally, StockNews.com downgraded shares of IDEX from a buy rating to a hold rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $241.67.

IDEX Price Performance

NYSE IEX traded down $1.35 on Thursday, hitting $223.29. 486,624 shares of the company’s stock were exchanged, compared to its average volume of 380,183. The stock has a 50-day moving average of $236.49 and a 200-day moving average of $216.60. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.32 and a beta of 0.97. IDEX has a 52 week low of $183.76 and a 52 week 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 posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.88% and a net margin of 17.89%. IDEX’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 earnings per share. Analysts expect that IDEX will post 8.34 earnings per share for the current year.

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.