Zacks Research Issues Pessimistic Forecast for IDEX Earnings

IDEX Corporation (NYSE:IEX) – Equities researchers at Zacks Research cut their FY2027 earnings estimates for IDEX in a research note issued to investors on Wednesday, November 19th. Zacks Research analyst Team now expects that the industrial products company will post earnings of $9.28 per share for the year, down from their prior estimate of $9.48. The consensus estimate for IDEX’s current full-year earnings is $8.26 per share.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The company had revenue of $712.00 million during the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%.

IEX has been the subject of a number of other reports. Stifel Nicolaus cut their price objective on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Oppenheimer set a $210.00 price target on IDEX in a research note on Tuesday, October 7th. Royal Bank Of Canada cut their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Finally, DA Davidson set a $180.00 price objective on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $198.86.

IDEX Trading Up 4.7%

Shares of NYSE:IEX opened at $170.72 on Friday. IDEX has a 52-week low of $153.36 and a 52-week high of $237.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.13 and a current ratio of 2.93. The company has a market capitalization of $12.78 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. The company has a 50-day simple moving average of $165.27 and a 200 day simple moving average of $171.72.

Hedge Funds Weigh In On IDEX

Several institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. increased its stake in IDEX by 235.5% during the 2nd quarter. Assetmark Inc. now owns 1,899 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 1,333 shares during the period. SG Americas Securities LLC lifted its position in shares of IDEX by 70.1% during the 2nd quarter. SG Americas Securities LLC now owns 15,636 shares of the industrial products company’s stock valued at $2,745,000 after acquiring an additional 6,443 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of IDEX during the 1st quarter worth $909,000. Sequoia Financial Advisors LLC acquired a new stake in shares of IDEX during the 2nd quarter worth $275,000. Finally, Swedbank AB increased its position in shares of IDEX by 16.2% in the first quarter. Swedbank AB now owns 55,396 shares of the industrial products company’s stock worth $10,025,000 after purchasing an additional 7,726 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX announced that its board has authorized a stock buyback program on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, January 16th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

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.