IDEX (NYSE:IEX) Issues Quarterly Earnings Results

IDEX (NYSE:IEX) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12, Briefing.com reports. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.09 EPS.

IDEX Trading Down 0.6 %

IEX stock opened at $223.29 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.24 and a beta of 0.97. The business’s 50-day moving average is $236.49 and its 200 day moving average is $216.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup increased their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird lowered their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday. Oppenheimer increased 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. Finally, Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

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.