Analysts Offer Predictions for IDEX Co.’s Q2 2024 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for IDEX in a research report issued on Thursday, April 25th. DA Davidson analyst M. Summerville forecasts that the industrial products company will earn $2.04 per share for the quarter. The consensus estimate for IDEX’s current full-year earnings is $8.34 per share.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 earnings per share.

A number of other equities analysts also recently commented on IEX. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Robert W. Baird cut their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Oppenheimer raised their target price on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.67.

IDEX Stock Performance

IDEX stock opened at $220.66 on Friday. The stock’s 50-day moving average is $236.36 and its 200-day moving average is $216.69. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36.

Institutional Investors Weigh In On IDEX

Several hedge funds and other institutional investors have recently bought and sold shares of IEX. CWM LLC increased its holdings in IDEX by 3.1% during the 3rd quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 52 shares during the last quarter. Avior Wealth Management LLC increased its holdings in IDEX by 2.3% during the 3rd quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 49 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in IDEX during the 3rd quarter worth approximately $321,000. Oak Thistle LLC purchased a new stake in IDEX during the 3rd quarter worth approximately $439,000. Finally, Czech National Bank increased its holdings in IDEX by 47.7% during the 3rd quarter. Czech National Bank now owns 13,213 shares of the industrial products company’s stock worth $2,749,000 after purchasing an additional 4,267 shares during the last quarter. 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.