Research Analysts Issue Forecasts for IDEX Co.’s Q1 2022 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Equities research analysts at Oppenheimer issued their Q1 2022 earnings per share (EPS) estimates for shares of IDEX in a report issued on Thursday, January 13th. Oppenheimer analyst B. Blair anticipates that the industrial products company will earn $1.64 per share for the quarter. Oppenheimer also issued estimates for IDEX’s Q2 2022 earnings at $1.74 EPS, Q3 2022 earnings at $1.82 EPS, Q4 2022 earnings at $1.85 EPS, FY2022 earnings at $7.05 EPS and FY2023 earnings at $7.65 EPS.

Other equities analysts have also recently issued reports about the company. Loop Capital assumed coverage on IDEX in a research report on Monday, November 22nd. They issued a “hold” rating and a $234.00 price objective on the stock. Mizuho assumed coverage on IDEX in a research report on Thursday, December 16th. They issued a “neutral” rating and a $233.00 price objective on the stock. DA Davidson upped their price objective on IDEX from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, October 28th. Royal Bank of Canada upped their price objective on IDEX from $252.00 to $254.00 and gave the company an “outperform” rating in a research report on Thursday, October 28th. Finally, Sanford C. Bernstein assumed coverage on IDEX in a report on Monday, January 10th. They set a “market perform” rating and a $230.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $239.73.

IEX stock opened at $220.31 on Friday. The stock has a market capitalization of $16.75 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.67 and a beta of 1.06. IDEX has a 12-month low of $185.23 and a 12-month high of $240.33. The company has a current ratio of 3.38, a quick ratio of 2.62 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $232.37 and its 200 day simple moving average is $224.82.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Monday, October 25th. The industrial products company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.04. The company had revenue of $712.02 million for the quarter, compared to the consensus estimate of $697.44 million. IDEX had a return on equity of 17.75% and a net margin of 16.20%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 EPS.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $2.16 dividend on an annualized basis and a yield of 0.98%. IDEX’s dividend payout ratio is currently 38.23%.

In related news, Director Daniel J. Salliotte sold 14,763 shares of the firm’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $235.90, for a total value of $3,482,591.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William M. Cook sold 679 shares of the stock in a transaction on Monday, November 1st. The stock was sold at an average price of $223.03, for a total value of $151,437.37. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its stake in IDEX by 2.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 4,800 shares of the industrial products company’s stock worth $1,134,000 after buying an additional 100 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in IDEX by 30.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,676 shares of the industrial products company’s stock worth $396,000 after buying an additional 390 shares in the last quarter. Diversified Trust Co increased its stake in IDEX by 8.1% in the 4th quarter. Diversified Trust Co now owns 3,329 shares of the industrial products company’s stock worth $787,000 after buying an additional 250 shares in the last quarter. First Hawaiian Bank increased its stake in IDEX by 372.7% in the 4th quarter. First Hawaiian Bank now owns 15,130 shares of the industrial products company’s stock worth $3,575,000 after buying an additional 11,929 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in IDEX by 2.8% in the 4th quarter. DNB Asset Management AS now owns 15,630 shares of the industrial products company’s stock worth $3,694,000 after buying an additional 426 shares in the last quarter. Institutional investors and hedge funds own 96.41% of the company’s stock.

IDEX Company Profile

IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

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