Q2 2024 EPS Estimates for IDEX Co. Lowered by Seaport Res Ptn (NYSE:IEX)

IDEX Co. (NYSE:IEXFree Report) – Seaport Res Ptn cut their Q2 2024 earnings per share estimates for shares of IDEX in a report issued on Thursday, February 8th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $2.15 per share for the quarter, down from their previous forecast of $2.30. The consensus estimate for IDEX’s current full-year earnings is $8.31 per share. Seaport Res Ptn also issued estimates for IDEX’s Q3 2024 earnings at $2.27 EPS, Q4 2024 earnings at $2.16 EPS and FY2025 earnings at $9.31 EPS.

IDEX (NYSE:IEXGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. The firm had revenue of $788.90 million for the quarter, compared to analysts’ expectations of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 EPS.

IEX has been the topic of several other research reports. Oppenheimer reiterated an “outperform” rating and set a $245.00 target price on shares of IDEX in a research report on Thursday, October 19th. Royal Bank of Canada boosted their target price on IDEX from $234.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.56.

View Our Latest Report on IDEX

IDEX Stock Performance

NYSE IEX opened at $226.97 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $212.27 and its two-hundred day moving average is $209.78. IDEX has a 12-month low of $183.76 and a 12-month high of $231.61. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.29 and a beta of 0.96.

Institutional Investors Weigh In On IDEX

A number of institutional investors and hedge funds have recently bought and sold shares of IEX. Morgan Stanley lifted its stake in IDEX by 274.1% in the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock valued at $491,214,000 after buying an additional 1,576,263 shares in the last quarter. Norges Bank purchased a new position in shares of IDEX during the 4th quarter worth $237,425,000. Alecta Tjanstepension Omsesidigt lifted its stake in shares of IDEX by 420.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after purchasing an additional 631,172 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEX by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company’s stock worth $746,628,000 after purchasing an additional 306,008 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of IDEX by 316.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock worth $76,667,000 after purchasing an additional 280,385 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

IDEX Company Profile

(Get Free Report)

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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Earnings History and Estimates for IDEX (NYSE:IEX)

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