FY2024 Earnings Estimate for IDEX Co. Issued By Zacks Research (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Equities researchers at Zacks Research dropped their FY2024 earnings per share estimates for IDEX in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst R. Department now forecasts that the industrial products company will earn $8.37 per share for the year, down from their prior estimate of $8.40. The consensus estimate for IDEX’s current full-year earnings is $8.35 per share. Zacks Research also issued estimates for IDEX’s Q4 2024 earnings at $2.28 EPS, Q2 2025 earnings at $2.51 EPS, Q4 2025 earnings at $2.31 EPS and Q1 2026 earnings at $2.44 EPS.

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

A number of other equities analysts have also commented on the company. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.78.

IDEX Price Performance

Shares of IDEX stock opened at $226.10 on Thursday. The stock has a 50 day moving average of $236.43 and a 200 day moving average of $215.88. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The firm has a market cap of $17.11 billion, a PE ratio of 28.84, a PEG ratio of 2.29 and a beta of 0.97. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On IDEX

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its holdings in IDEX by 120.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 77 shares during the period. Planned Solutions Inc. purchased a new position in IDEX during the 4th quarter worth $33,000. Clear Street Markets LLC increased its holdings in IDEX by 94.7% during the 1st quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 72 shares during the period. Riverview Trust Co purchased a new position in IDEX during the 1st quarter worth $35,000. Finally, Quarry LP purchased a new position in IDEX during the 4th quarter worth $36,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Company Profile

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.