IDEX (NYSE:IEX) Board of Directors Approves Share Buyback Program

IDEX (NYSE:IEX) declared that its Board of Directors has authorized a stock buyback program on Thursday, September 18th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

IDEX Stock Up 1.6%

Shares of IDEX stock opened at $162.16 on Friday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. IDEX has a 52-week low of $153.36 and a 52-week high of $238.22. The company has a market capitalization of $12.21 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.68 and a beta of 1.02. The company has a 50 day moving average of $168.25 and a 200 day moving average of $175.15.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.07. The company had revenue of $865.40 million for the quarter, compared to the consensus estimate of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. As a group, research analysts forecast that IDEX will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.8%. IDEX’s payout ratio is currently 45.88%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IEX. Citigroup lifted their target price on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Royal Bank Of Canada dropped their price objective on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. DA Davidson set a $180.00 target price on IDEX and gave the stock a “neutral” rating in a research note on Monday, August 4th. Oppenheimer lowered their target price on IDEX from $224.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Finally, Stifel Nicolaus cut their price target on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.71.

About IDEX

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.