IDEX (NYSE:IEX – Get Free Report) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.000-2.050 for the period, compared to the consensus estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on IEX. Royal Bank of Canada reissued an outperform rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Citigroup lifted their price objective on IDEX from $254.00 to $277.00 and gave the company a buy rating in a research note on Monday, April 8th. Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. StockNews.com raised IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus raised IDEX from a hold rating to a buy rating and lifted their price objective for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $238.78.
Check Out Our Latest Research Report on IDEX
IDEX Stock Up 1.1 %
IDEX (NYSE:IEX – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same period in the previous year, the company posted $2.09 EPS. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts predict that IDEX will post 8.34 EPS for the current fiscal year.
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.
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