Brokerages Expect IDEX Co. (NYSE:IEX) to Announce $1.90 EPS

Wall Street analysts expect that IDEX Co. (NYSE:IEX – Get Rating) will post $1.90 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for IDEX’s earnings, with the highest EPS estimate coming in at $1.95 and the lowest estimate coming in at $1.86. IDEX reported earnings of $1.61 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 18%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that IDEX will report full-year earnings of $7.69 per share for the current year, with EPS estimates ranging from $7.62 to $7.93. For the next fiscal year, analysts anticipate that the firm will report earnings of $8.38 per share, with EPS estimates ranging from $8.14 to $8.82. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover IDEX.

IDEX (NYSE:IEX – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.22. The business had revenue of $751.10 million during the quarter, compared to analysts’ expectations of $721.21 million. IDEX had a return on equity of 18.61% and a net margin of 16.65%. During the same period in the prior year, the firm posted $1.51 EPS.

Several analysts have recently weighed in on IEX shares. Citigroup boosted their target price on IDEX from $232.00 to $235.00 in a report on Thursday, April 28th. Robert W. Baird reduced their target price on IDEX from $251.00 to $233.00 in a report on Thursday, February 3rd. DA Davidson reissued a “neutral” rating on shares of IDEX in a report on Thursday, April 28th. Stifel Nicolaus reduced their target price on IDEX from $244.00 to $231.00 and set a “buy” rating for the company in a report on Monday, April 18th. Finally, StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEX has a consensus rating of “Buy” and a consensus price target of $225.10.

NYSE:IEX opened at $188.67 on Monday. The stock has a 50-day simple moving average of $191.60 and a 200-day simple moving average of $207.97. The stock has a market cap of $14.34 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.99 and a beta of 1.05. IDEX has a 1 year low of $179.30 and a 1 year high of $240.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.68 and a current ratio of 3.59.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Tuesday, May 17th will be issued a $0.60 dividend. The ex-dividend date is Monday, May 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from IDEX’s previous quarterly dividend of $0.54. IDEX’s dividend payout ratio is currently 38.52%.

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of IDEX by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 8,802,857 shares of the industrial products company’s stock worth $1,687,772,000 after purchasing an additional 53,138 shares during the period. BlackRock Inc. raised its position in shares of IDEX by 3.7% in the 4th quarter. BlackRock Inc. now owns 6,060,157 shares of the industrial products company’s stock worth $1,432,137,000 after buying an additional 218,305 shares during the period. State Street Corp raised its position in shares of IDEX by 1.0% in the 4th quarter. State Street Corp now owns 3,151,743 shares of the industrial products company’s stock worth $744,820,000 after buying an additional 31,231 shares during the period. Wellington Management Group LLP raised its position in IDEX by 3.9% in the first quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company’s stock valued at $595,660,000 after purchasing an additional 117,605 shares during the period. Finally, Brown Advisory Inc. raised its position in IDEX by 6.6% in the first quarter. Brown Advisory Inc. now owns 2,559,666 shares of the industrial products company’s stock valued at $503,292,000 after purchasing an additional 159,173 shares during the period. Hedge funds and other institutional investors own 96.95% 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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