IDEX (NYSE:IEX) Updates Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.000-2.050 for the period, compared to the consensus earnings per share estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

IDEX Price Performance

Shares of IDEX stock traded down $7.97 during trading on Wednesday, hitting $224.30. The stock had a trading volume of 374,502 shares, compared to its average volume of 375,892. The business has a fifty day moving average of $236.63 and a two-hundred day moving average of $216.50. The firm has a market cap of $16.98 billion, a P/E ratio of 29.52, a PEG ratio of 2.30 and a beta of 0.97. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm’s revenue for the quarter 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 fiscal year.

Analysts Set New Price Targets

IEX has been the subject of a number of research analyst reports. Citigroup increased their target price on IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. StockNews.com lowered IDEX from a buy rating to a hold rating in a research report on Wednesday. Oppenheimer upped their target price on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, April 18th. Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and raised their price target for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $238.78.

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.