IDEX (NYSE:IEX) Releases Q2 Earnings Guidance

IDEX (NYSE:IEXGet Rating) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.85-1.90 for the period, compared to the Thomson Reuters consensus estimate of $1.88. The company issued revenue guidance of $740.83-747.69 million, compared to the consensus revenue estimate of $747.90 million.IDEX also updated its FY 2022 guidance to $7.500-$7.630 EPS.

Shares of NYSE:IEX traded down $4.86 on Tuesday, hitting $186.85. The company had a trading volume of 410,102 shares, compared to its average volume of 458,689. The company has a current ratio of 3.50, a quick ratio of 2.72 and a debt-to-equity ratio of 0.42. IDEX has a 52-week low of $181.66 and a 52-week high of $240.33. The business has a 50 day moving average of $192.80 and a 200 day moving average of $212.77. The company has a market cap of $14.22 billion, a PE ratio of 31.78, a PEG ratio of 2.16 and a beta of 1.11.

IDEX (NYSE:IEXGet Rating) last released 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 business had revenue of $714.80 million for the quarter, compared to analysts’ expectations of $705.84 million. During the same quarter last year, the company posted $1.37 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts predict that IDEX will post 7.56 EPS for the current year.

IEX has been the topic of several recent analyst reports. Zacks Investment Research upgraded IDEX from a hold rating to a buy rating and set a $213.00 target price on the stock in a research report on Friday, February 4th. Stifel Nicolaus cut their price objective on IDEX from $244.00 to $231.00 and set a buy rating on the stock in a report on Monday, April 18th. Cowen upgraded IDEX from a market perform rating to an outperform rating and set a $220.00 price objective on the stock in a report on Wednesday, March 9th. StockNews.com downgraded IDEX from a buy rating to a hold rating in a report on Thursday, April 21st. Finally, Citigroup cut their price objective on IDEX from $269.00 to $248.00 in a report on Thursday, February 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, IDEX has a consensus rating of Buy and an average price target of $235.15.

A number of hedge funds and other institutional investors have recently modified their holdings of IEX. Barclays PLC grew its stake in IDEX by 23.5% during the 4th quarter. Barclays PLC now owns 973,459 shares of the industrial products company’s stock valued at $230,050,000 after purchasing an additional 184,957 shares in the last quarter. Cetera Investment Advisers grew its stake in IDEX by 41.2% during the 4th quarter. Cetera Investment Advisers now owns 2,189 shares of the industrial products company’s stock valued at $517,000 after purchasing an additional 639 shares in the last quarter. Marshall Wace LLP acquired a new stake in IDEX during the 4th quarter valued at approximately $3,449,000. Schonfeld Strategic Advisors LLC acquired a new stake in IDEX during the 4th quarter valued at approximately $1,683,000. Finally, Stifel Financial Corp grew its stake in IDEX by 4.3% during the 4th quarter. Stifel Financial Corp now owns 1,616 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

About IDEX (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.

See Also

Earnings History and Estimates for IDEX (NYSE:IEX)

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