IDEX (NYSE:IEX) Issues FY22 Earnings Guidance

IDEX (NYSE:IEX – Get 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. StockNews.com 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:IEX – Get 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.

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