IDEX (NYSE:IEX) Releases FY 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.150-8.450 for the period, compared to the consensus estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an outperform rating and issued a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. StockNews.com upgraded shares of IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Citigroup increased their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and increased their price objective for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Finally, Oppenheimer raised their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $238.78.

IDEX Price Performance

Shares of IEX stock traded up $2.48 during midday trading on Tuesday, reaching $232.37. 381,823 shares of the company were exchanged, compared to its average volume of 376,136. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a market cap of $17.59 billion, a P/E ratio of 29.74, a PEG ratio of 2.27 and a beta of 0.97. The company’s 50 day moving average price is $236.47 and its two-hundred day moving average price is $216.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89.

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 business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $2.09 earnings per share. On average, sell-side analysts expect that IDEX will post 8.34 earnings per share for the current year.

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.