IDEX (NYSE:IEX) Issues FY22 Earnings Guidance

IDEX (NYSE:IEXGet Rating) updated its FY22 earnings guidance on Tuesday. The company provided EPS guidance of $7.50-7.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.51. The company issued revenue guidance of $2.93-2.99 billion, compared to the consensus revenue estimate of $2.99 billion.IDEX also updated its FY 2022 guidance to $7.500-$7.630 EPS.

A number of brokerages have recently weighed in on IEX. Stifel Nicolaus reduced their price objective on shares of IDEX from $244.00 to $231.00 and set a buy rating for the company in a research note on Monday, April 18th. Sanford C. Bernstein began coverage on shares of IDEX in a report on Monday, January 10th. They issued a market perform rating and a $230.00 price target on the stock. lowered shares of IDEX from a buy rating to a hold rating in a report on Thursday, April 21st. Robert W. Baird reduced their price target on shares of IDEX from $251.00 to $233.00 in a research report on Thursday, February 3rd. Finally, Loop Capital cut their target price on shares of IDEX from $225.00 to $210.00 in a research report on Monday, April 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $235.15.

Shares of NYSE IEX traded down $4.86 during midday trading on Tuesday, hitting $186.85. 410,102 shares of the stock traded hands, compared to its average volume of 458,689. The company has a market cap of $14.22 billion, a PE ratio of 31.78, a P/E/G ratio of 2.16 and a beta of 1.11. IDEX has a one year low of $181.66 and a one year high of $240.33. The business has a 50 day moving average price of $192.80 and a two-hundred day moving average price of $212.77. 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 (NYSE:IEXGet Rating) last released its quarterly earnings data on Tuesday, February 1st. The industrial products company reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.04). IDEX had a net margin of 16.26% and a return on equity of 17.82%. The firm had revenue of $714.80 million for the quarter, compared to the consensus estimate of $705.84 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The company’s revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts forecast that IDEX will post 7.56 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in IEX. Barclays PLC grew its holdings in IDEX by 23.5% during the fourth quarter. Barclays PLC now owns 973,459 shares of the industrial products company’s stock worth $230,050,000 after buying an additional 184,957 shares in the last quarter. Deutsche Bank AG grew its stake in IDEX by 11.8% in the 4th quarter. Deutsche Bank AG now owns 256,048 shares of the industrial products company’s stock valued at $60,509,000 after purchasing an additional 26,981 shares during the period. Marshall Wace LLP bought a new position in IDEX in the 4th quarter valued at $3,449,000. Allianz Asset Management GmbH grew its stake in IDEX by 2.1% in the 4th quarter. Allianz Asset Management GmbH now owns 570,194 shares of the industrial products company’s stock valued at $134,736,000 after purchasing an additional 11,688 shares during the period. Finally, Sei Investments Co. grew its stake in IDEX by 16.8% in the 4th quarter. Sei Investments Co. now owns 66,707 shares of the industrial products company’s stock valued at $15,766,000 after purchasing an additional 9,592 shares during the period. Institutional investors and hedge funds 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.

Further Reading

Earnings History and Estimates for IDEX (NYSE:IEX)

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