Brokers Offer Predictions for IDEX Co.’s FY2022 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEXGet Rating) – Analysts at Zacks Research raised their FY2022 earnings per share (EPS) estimates for IDEX in a research note issued to investors on Wednesday, November 2nd. Zacks Research analyst E. Haque now forecasts that the industrial products company will post earnings per share of $8.06 for the year, up from their prior estimate of $7.92. The consensus estimate for IDEX’s current full-year earnings is $8.08 per share. Zacks Research also issued estimates for IDEX’s Q4 2022 earnings at $1.94 EPS, Q1 2023 earnings at $2.11 EPS, Q2 2023 earnings at $2.13 EPS, Q3 2023 earnings at $2.11 EPS, Q4 2023 earnings at $1.99 EPS, Q1 2024 earnings at $2.14 EPS, Q2 2024 earnings at $2.15 EPS, Q3 2024 earnings at $2.17 EPS and FY2024 earnings at $8.48 EPS.

IDEX (NYSE:IEXGet Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.14. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $779.81 million. IDEX had a return on equity of 20.68% and a net margin of 18.66%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share.

Several other equities analysts have also recently issued reports on IEX. Loop Capital decreased their price target on IDEX from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. DA Davidson raised their target price on IDEX from $210.00 to $220.00 in a report on Thursday, October 27th. Oppenheimer upgraded IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 target price on the stock in a report on Thursday, July 14th. Sanford C. Bernstein assumed coverage on IDEX in a research report on Tuesday, August 16th. They set a “market perform” rating and a $220.00 price target on the stock. Finally, StockNews.com assumed coverage on IDEX in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.58.

IDEX Price Performance

IDEX stock opened at $225.75 on Monday. The business’s 50-day simple moving average is $206.94 and its 200 day simple moving average is $197.86. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.30 and a beta of 1.01. IDEX has a 12-month low of $172.18 and a 12-month high of $240.33. The company has a quick ratio of 2.33, a current ratio of 3.23 and a debt-to-equity ratio of 0.42.

Institutional Trading of IDEX

Institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of IDEX by 34.8% during the 1st quarter. CWM LLC now owns 1,181 shares of the industrial products company’s stock worth $226,000 after buying an additional 305 shares in the last quarter. UMB Bank N A MO raised its holdings in shares of IDEX by 15.3% during the 1st quarter. UMB Bank N A MO now owns 581 shares of the industrial products company’s stock worth $111,000 after buying an additional 77 shares in the last quarter. Allworth Financial LP raised its holdings in shares of IDEX by 1,072.7% during the 1st quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Tobam raised its holdings in shares of IDEX by 28.4% during the 1st quarter. Tobam now owns 330 shares of the industrial products company’s stock worth $63,000 after buying an additional 73 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of IDEX during the 1st quarter worth $216,000. 96.52% of the stock is currently owned by institutional investors.

Insider Transactions at IDEX

In related news, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $50.45, for a total value of $42,529.35. Following the completion of the sale, the chief financial officer now directly owns 127,689 shares in the company, valued at approximately $6,441,910.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO William K. Grogan sold 843 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $50.45, for a total transaction of $42,529.35. Following the completion of the sale, the chief financial officer now directly owns 127,689 shares in the company, valued at approximately $6,441,910.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric D. Ashleman sold 15,848 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $86.43, for a total value of $1,369,742.64. Following the sale, the chief executive officer now owns 38,480 shares of the company’s stock, valued at $3,325,826.40. The disclosure for this sale can be found here. In the last three months, insiders sold 19,766 shares of company stock worth $2,097,044. 0.50% of the stock is owned by company insiders.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, October 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.06%. IDEX’s dividend payout ratio is currently 31.79%.

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.

Further Reading

Earnings History and Estimates for IDEX (NYSE:IEX)

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