IDEX Co. (NYSE:IEX) Expected to Announce Quarterly Sales of $721.54 Million

Wall Street brokerages expect IDEX Co. (NYSE:IEXGet Rating) to announce sales of $721.54 million for the current quarter, according to Zacks. Four analysts have made estimates for IDEX’s earnings. The highest sales estimate is $729.00 million and the lowest is $713.00 million. IDEX reported sales of $652.04 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The business is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that IDEX will report full year sales of $3.02 billion for the current fiscal year, with estimates ranging from $2.97 billion to $3.06 billion. For the next financial year, analysts expect that the firm will post sales of $3.20 billion, with estimates ranging from $3.15 billion to $3.28 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for IDEX.

IDEX (NYSE:IEXGet Rating) last posted its earnings results on Tuesday, February 1st. The industrial products company reported $1.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.04). IDEX had a return on equity of 17.82% and a net margin of 16.26%. The firm had revenue of $714.80 million during the quarter, compared to the consensus estimate of $705.84 million. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year.

A number of research analysts have issued reports on IEX shares. Robert W. Baird cut their target price on shares of IDEX from $251.00 to $233.00 in a research report on Thursday, February 3rd. Citigroup cut their target price on shares of IDEX from $269.00 to $248.00 in a research report on Thursday, February 3rd. StockNews.com started coverage on shares of IDEX in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Sanford C. Bernstein started coverage on shares of IDEX in a research report on Monday, January 10th. They set a “market perform” rating and a $230.00 target price on the stock. Finally, Cowen upgraded shares of IDEX from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a research report on Wednesday, March 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $235.50.

IDEX stock traded down $4.54 during trading hours on Wednesday, reaching $190.56. 313,893 shares of the company’s stock traded hands, compared to its average volume of 503,427. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.72 and a current ratio of 3.50. IDEX has a fifty-two week low of $181.66 and a fifty-two week high of $240.33. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 2.10 and a beta of 1.11. The firm’s 50 day moving average is $192.90 and its 200-day moving average is $213.48.

A number of hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its holdings in IDEX by 15.0% during the 3rd quarter. Signaturefd LLC now owns 345 shares of the industrial products company’s stock worth $71,000 after buying an additional 45 shares during the period. Eagle Bay Advisors LLC grew its stake in shares of IDEX by 20.9% during the 4th quarter. Eagle Bay Advisors LLC now owns 284 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 49 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of IDEX by 6.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 785 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 50 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of IDEX by 4.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 1,226 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 51 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of IDEX by 0.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 10,078 shares of the industrial products company’s stock worth $2,382,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

IDEX Company Profile (Get Rating)

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, small volume provers, 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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